J&K bank's profit rises 27% to Rs 415 cr in Apr-Jun quarter on high income

J&K Bank on Saturday reported a 27 per cent rise in net profit to Rs 415 crore in the April-June quarter of 2024-25 compared to the year-ago period.

The bank had posted a net profit of Rs 326 crore in the April-June period of the previous year.

Total income in the first quarter of the current fiscal rose to Rs 3,188 crore as against Rs 2,885 crore, J&K Bank said in a filing. The lender's interest income also increased to Rs 2,994 crore from Rs 2,657 crore in the same quarter a year ago.

The bank's net interest income (NII) grew by 7 per cent to Rs 1,369 crore in the first quarter of current financial year.

The gross Non-Performing Assets (NPAs) declined to 3.91 per cent of the gross advances by June 2024 from 5.77 per cent in the same quarter a year ago. The net NPA too declined to 0.76 per cent as against 1.39 per cent in the same period of the previous year.

The capital adequacy ratio of the bank improved to 15.07 per cent at the end of June compared to 14.83 per cent in the