J&K Bank reports 35% rise in its net profit to Rs 147 crore
By Our Banking Bureau | 09 Oct 2002
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Mumbai: Jammu and Kashmir Bank (J&K Bank) has reported a 35.5-per cent jump in its net profit to Rs 146.99 crore for the first half of the financial year 2002-03 compared to Rs 108.96 crore for the same period in the previous year.
The operating profit for the period was higher by 41.38 per cent at Rs 263.05 crore (Rs 186.06 crore
The total income of the bank touched Rs 832.96 crore for the half-year period. During the quarter ended September 2002, J&K Bank clocked a 41-per cent growth in its net profit at Rs 74.7 crore.
The interest income grew by 4.7 per cent at Rs 347 crore (helped largely by a 20-per cent rise), even as the interest on advances as the income on investments fell to Rs 152.8 crore (Rs 165.2 crore).
