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Private sector lender Jammu & Kashmir Bank's net profit was flat at Rs 250.6 crore for the fourth quarter ended March 2014, as compared to Rs 250 crore in the corresponding period last year.
This was mainly on account of decline in other income that includes treasury gains, fees and commissions. Other income was down 47 per cent to Rs 111 crore at the end of the March quarter, as compared to Rs 208.9 crore in the same period last year.
The provisions declined significantly. At the end of March quarter provisions accounted for only Rs 60.57 crore as compared to Rs 178.61 crore in the corresponding period.
Even for the entire financial year, other income was down by 24 per cent to Rs 390.24 crore as against Rs 483.73 crore.
However, net profit for FY14 was up by 12 per cent at Rs 1,182.47 crore as compared to Rs 1,055.10 crore, a year ago.
