J&K Bank reports net loss of Rs 602 crore in Jul-Sep qtr

State-owned Jammu & Kashmir Bank today posted a net loss of Rs 602.40 crore for the second quarter ended September 30.
However, the bank had posted a net profit of Rs 195.62 crore in the corresponding quarter of the previous fiscal.
"Total income has decreased to Rs 1,816.67 crore for the quarter ended September 30, 2016 from Rs 1,847.84 crore in the same period of previous fiscal," the bank said in a regulatory filing.
The bank was to announce the second quarter results on November 12, however, it had to postpone it to a future date in view of political unrest in Kashmir Valley that time.

It has requested Sebi for grant of extension in the stipulated 45 days timeline for submission of the second quarter results as well as waiver of penalty for delay in submission beyond the time limit.
Besides, the bank had approached the RBI for a special dispensation addressing these concerns and had said that it was not been able to finalise bank's financials for the July-September quarter.
Stock of the bank closed 0.73 per cent down at Rs 60.80 a share on BSE today.