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J&K Bank drops as net loss widens in Q4

Capital Market 

Jammu & Kashmir lost 2.38% to Rs 82.05 at 14:35 on after the reported a net loss of Rs 554.30 crore in Q4 March 2017, compared with net loss of Rs 56.02 crore in Q4 March 2016.

The result was announced on Saturday, 13 May 2017.

Meanwhile, the S&P Sensex was up 151.89 points or 0.5% at 30,340.04. The Mid-Cap index was

On the BSE, 1.94 lakh shares were traded on the counter so far as against the average daily volumes of 2.19 lakh shares in the past one quarter. The stock had hit a high of Rs 87.60 and a low of Rs 81.10 so far during the day.

The stock had hit a 52-week high of Rs 91.95 on 5 October 2016 and a 52-week low of Rs 54.60 on 24 November 2016. It had outperformed the market over the past one month till 12 May 2017, advancing 6.39% compared with the Sensex's 1.84% rise. The scrip had also outperformed the market over the past one quarter, gaining 22.52% as against the Sensex's 6.54% rise.

The mid-cap has equity capital of Rs 52.13 crore. Face value per share is Rs 1.

The bank's total income declined 0.1% to Rs 1802.74 crore in Q4 March 2017 over Q4 March 2016.

The bank's gross non-performing assets (NPAs) rose to Rs 6000.01 crore as on 31 March 2017 as against Rs 5714.91 crore as on 31 December 2016 and Rs 4368.62 crore as on 31 March 2016.

The ratio of gross NPAs to gross advances stood at 11.2% as on 31 March 2017 as against 11.84% as on 31 December 2016 and 8.32% as on 31 March 2016. The ratio of net NPAs to net advances stood at 4.87% as on 31 March 2017 as against 5.99% as on 31 December 2016 and 4.31% as on 31 March 2016.

The bank's provisions and contingencies surged 93.5% to Rs 768.25 crore in Q4 March 2017 over Q4 March 2016.

is the only in the country with majority ownership vested with a state government. The J&K state government holds 53.17% stake in the as at 31 March 2017.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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