J&K Bank Q2FY24 result: Net profit jumps 56% to Rs 381 cr; GNPA down 25%

The net NPA for Q2FY24 came in at Rs 917.36 crore, as compared to Rs 1,566.77 crore year-on-year

The Jammu and Kashmir Bank reported a jump of 56.5 per cent in its standalone net profit in the quarter ended September 30 to Rs 381.07 crore, as compared to Rs 243.49 crore in the same quarter last year. As compared to Rs 326.45 crore in Q1FY24, the net profit was up 16.73 per cent.

The gross non-performing assets (GNPA) for Q2FY24 came in at Rs 4,826.68 crore, as compared to Rs 6,064.68 crore YoY. This is a fall of 25.64 per cent. On a QoQ basis, the GNPA was down 5.42 per cent. It was Rs 5103.68 crore in Q1FY24.

The net NPA for Q2FY24 came in at Rs 917.36 crore, as compared to Rs 1,566.77 crore YoY. This is a fall of 41.44 per cent. On a QoQ basis, the NNPA was down 22.05 per cent. It was Rs 1,176.91 crore in Q1FY24.

The Jammu and Kashmir Bank stock closed at Rs 107 on Friday.