J&K Bank FY06 net up 54%

Jammu & Kashmir Bank posted a 54% increase in net profit at Rs 176.84 crore for the year ended March 31, 2006 when compared with Rs 115.08 crore in FY05.

According to a release issued by the bank to the BSE today, total income increased to Rs 1,839.43 crore from Rs 1,645.37 crore in FY05.

The bank posted a net profit of Rs 22.79 crore in Q4FY06 as against Rs 45.86 crore in Q4FY05. Total income increased to Rs 499 crore from Rs 426.07 crore in Q4FY05.

The board has recommended a dividend of 80% i.e Rs 8 per share, the release added.