| J&K Bank FY05 net drops 72%, payout at 80% |
| Our Web Bureau / Mumbai May 11, 2005 |
| Jammu & Kashmir Bank (J&K Bank) has reported a 53% slump in net profit to Rs 45.88 crore for the quarter ended March 31, 2005 as against Rs 98.03 crore in the same quarter last fiscal. Total income has decreased from Rs 435.56 crore in Q4-04 to Rs 420.28 crore for the quarter ended March 31, 2005. The bank has recorded a 72% drop in its net profit to Rs 115.07 crore for the year ended March 31, 2005, against Rs 406.33 crore in FY04. Total income has decreased from Rs 1822.95 crore in FY-04 to Rs 1631.26 crore for the year ended March 31, 2005. The substantial dip in profitability is attributed to depreciation of Rs 181.17 crore on investments and loss of Rs 13.81 crore booked on account of sale of securities vis- |
