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J&K Bank shares jump over 8% after Q1 results

LiveMint logoLiveMint 24-07-2017 PTI

New Delhi: Shares of Jammu & Kashmir Bank on Monday surged over 8 per cent after the company reported 32 per cent rise in net profit for the quarter ended 30 June.

The stock jumped 7.15% to settle at Rs 89.90 on BSE. During the day, it soared 9.53% to Rs91.90. At NSE, shares of the company surged 8.26% to end at Rs 90.40.

In terms of volume, 4.47 lakh shares of the company were traded on BSE and over 29 lakh shares changed hands at NSE during the day.

Jammu & Kashmir Bank on Saturday reported 32% rise in net profit to Rs30.19 crore for the quarter ended 30 June 2017. It had reported a net profit of Rs22.88 crore in April- June quarter of 2016.

Total income of the bank rose to Rs 1,790.53 crore in April-June 2017, from Rs1,789.05 crore in the year-ago period, it had said in a regulatory filing.

Its gross non-performing assets (NPAs) rose to 10.79% of gross loans as on June 2017, from 9.31% in the corresponding period last year. Net NPAs or bad loans, however, came down to 4.65% in June 2017 from 6.19% a year ago.

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