Jammu & Kashmir Bank fell 3.29% to Rs 58.80 at 10:21 IST on BSE after the bank reported net loss of Rs 602.40 crore in Q2 September 2016 compared with net profit of Rs 195.62 crore in Q2 September 2015.
The result was announced after market hours yesterday, 15 December 2016.Meanwhile, the BSE Sensex was down 16.47 points, or 0.06%, to 26,502.60.
On the BSE, so far 1.62 lakh shares were traded in the counter, compared with average daily volumes of 3.38 lakh shares in the past one quarter. The stock had hit a high of Rs 60.30 and a low of Rs 57.15 so far during the day.
The stock hit a 52-week high of Rs 91.95 on 5 October 2016. The stock hit a 52-week low of Rs 54.60 on 24 November 2016. The stock had outperformed the market over the past 30 days till 15 December 2016, rising 2.01% compared with the 0.84% rise in the Sensex. The scrip had, however, underperformed the market in past one quarter, falling 26.17% as against Sensex's 7.27% decline.
The small-cap company has equity capital of Rs 48.48 crore. Face value per share is Re 1.
Jammu & Kashmir Bank (J&K Bank)'s total income fell 1.69% to Rs 1816.67 crore in Q2 September 2016 over Q2 September 2015.
The bank's gross non-performing assets (NPAs) stood at Rs 5682.96 crore as on 30 September 2016 as against Rs 4714.92 crore as on 30 June 2016 and Rs 3081.68 crore as on 30 September 2015.
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The ratio of gross NPAs to gross advances stood at 11.33% as on 30 September 2016 as against 9.31% as on 30 June 2016 and 6.46% as on 30 September 2015.
The ratio of net NPAs to net advances stood at 6.81% as on 30 September 2016 as against 6.19% as on 30 June 2016 and 2.78% as on 30 September 2015.
The bank's provisions and contingencies (excluding tax provisions) surged 683.76% to Rs 992.08 crore in Q2 September 2016 over Q2 September 2015.
J&K Bank is the only bank in the country with majority ownership vested with a state government. The J&K state government holds 53.17% stake in the bank as at 30 September 2016.
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