J&K Bank net profit dips 30% to Rs 50.65 cr

The Jammu and Kashmir Bank's net profit declined by 29.59 per cent to Rs 50.65 crore for the quarter ended December 31, 2005 compared with Rs 71.94 crore for the quarter ended December 31, 2004.

Operating profit, however, rose by a marginal 8 per cent to Rs 86.83 crore compared with Rs 97.97 crore in the corresponding quarter of the preceding fiscal.

Total income has increased by 12.42 per cent to Rs 446.73 crore for the reporting quarter from Rs 397.35 crore in the comparable period, a year earlier.

Total expenditure increased by 13.78 per cent for the reporting quarter to Rs 340.66 crore against Rs 299.39 crore as at December 31, 2004.

The capital adequacy ratio also declined to 14.40 per cent for the October-December quarter of 2005 from 15.29 per cent in the corresponding quarter of 2004. Net NPA ratio also fell to 1.13 per cent in the reporting quarter from 1.30 per cent, a year earlier.