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Journalism of Courage
J-K Bank reported 19.92 per cent increase in net profit at Rs 167.88 crore for the third quarter of the current fiscal,driven mainly by rising interest income.
The public sector lender had registered a net profit of Rs 139.99 crore in the corresponding quarter a year ago,J-K bank said in filing to the Bombay Stock Exchange.
During the quarter ended December 31,2010,the bank’s total income rose by 18.06 per cent to Rs 1,012.22 crore as against Rs 857.36 crore in the year-ago period,it said.
It further said that the interest earned by the bank in the third quarter increased by over 23 per cent to Rs 934 crore from Rs 758 crore in the year ago period.
In the nine-month period ended December 31,2010,the bank earned nearly 19 per cent more interest at Rs 2,699 crore,over Rs 2,271 crore in the corresponding period of the previous year.
However,the gross NPAs (Non Performing Assets) of J-K Bank reportedly declined to 1.95 per cent in the third quarter of this fiscal,from 2.17 per cent in the same period of the previous year.
The bank also witnessed a jump of 21.48 per cent in net profit for the nine months ended December 31,2010,at Rs 476.64 crore,from Rs 392.33 crore in the corresponding period of the previous year.
