Jammu & Kashmir Bank rose 3.86% to Rs 37.70 at 14:24 IST on BSE after net profit rose 43.16% to Rs 103.75 crore on 20.97% increase in total income to Rs 2166.22 crore in Q3 December 2018 over Q3 December 2017.
The result was announced on Saturday, 12 January 2019.Meanwhile, the S&P BSE Sensex was down 199.87 points, or 0.56% to 35,809.97.
On the BSE, 4.40 lakh shares were traded in the counter so far compared with average daily volumes of 74,000 shares in the past two weeks. The stock had hit a high of Rs 38.70 and a low of Rs 37 so far during the day. The stock hit a 52-week high of Rs 82.50 on 15 January 2018. The stock hit a 52-week low of Rs 35.05 on 18 December 2018.
The bank's gross non-performing assets (NPAs) stood at Rs 6859.73 crore as on 31 December 2018 as against Rs 6067.66 crore as on 30 September 2018 and Rs 6232.08 crore as on 31 December 2017.
The ratio of gross NPAs to gross advances stood at 9.94% as on 31 December 2018 as against 9% as on 30 September 2018 and 10.08% as on 31 December 2017.
The ratio of net NPAs to net advances stood at 4.69% as on 31 December 2018 as against 3.91% as on 30 September 2018 and 4.29% as on 31 December 2017.
The bank's provisions and contingencies rose 1.08% to Rs 252.82 crore in Q3 December 2018 over Q3 December 2017.
Provision coverage ratio of the bank was at 65.82% as on 31 December 2018.
Jammu & Kashmir Bank functions as a universal bank in Jammu & Kashmir and as a specialised bank in the rest of the country.
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