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

On Saturday, J&K Bank reported 32% rise in net profit to Rs 30.19 cr for first quarter

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 June 30.

The stock jumped 7.15 per cent to settle at Rs 89.90 on BSE. During the day, it soared 9.53 per cent to Rs 91.90.

At NSE, shares of the company surged 8.26 per cent 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 per cent rise in net profit to Rs 30.19 crore for the quarter ended June 30, 2017.

It had reported a net profit of Rs 22.88 crore in April- June quarter of 2016.

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

Its gross non-performing assets (NPAs) rose to 10.79 per cent of gross loans as on June 2017, from 9.31 per cent in the corresponding period last year.

Net NPAs or bad loans, however, came down to 4.65 per cent in June 2017 from 6.19 per cent a year ago.