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Jammu and Kashmir Bank posted an almost flat net profit of ₹251 crore compared to ₹250 crore in the year-ago period.
The old private sector bank’s net interest income (difference between interest earned and expended) grew 11 per cent to ₹701 crore from ₹634 crore in the same quarter in FY13. Other income dipped 47 per cent to ₹111 crore from ₹209 crore.
Gross non-performing assets worsened to 0.22 per cent as on March end this year from 0.14 per cent as on March end last year. Net NPAs also increased to 1.66 per cent from 1.62 per cent.
For the full year, the bank reported a 12 per cent rise in net profit at ₹1,182 crore against ₹1,055 crore for the previous year.
During the year, net interest margin increased to 4.16 per cent as against 3.96 per cent recorded during the last financial year.
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