Private sector lender J&K Bank today reported a growth of 23 per cent in net profit at Rs 145.4 crore for the first quarter ended June 30, over the same period in FY10.

The Srinagar-based bank clocked a profit of Rs 118.1 crore in the year-ago period.

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The total interest earned during the April-June period stood at Rs 865.7 crore, as against Rs 771.5 crore last year.

The bank lowered its gross non-performing assets (NPAs) to 1.92 per cent of its total outstanding advances in the quarter from 2.44 per cent last year.

The gross NPA during the first quarter stood at Rs 450.1 crore, as against Rs 511.7 crore in the year-ago quarter.

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