Jammu & Kashmir Bank dropped 3.66% to Rs 100.05 at 12:20 IST on BSE after net profit fell 59.45% to Rs 101.61 crore on 7.14% rise in total income to Rs 2023.50 crore in Q4 March 2015 over Q4 March 2014.
The Q4 result was announced on Saturday, 16 May 2015.
Meanwhile, the S&P BSE Sensex was up 124.13 points or 0.45% at 27,448.13.
On BSE, so far 89,139 shares were traded in the counter as against average daily volume of 2.48 lakh shares in the past one quarter.
The stock hit a high of Rs 103.50 and a low of Rs 97.10 so far during the day. The stock had hit a record high of Rs 199.50 on 16 May 2014. The stock had hit a 52-week low of Rs 95 on 1 April 2015.
The stock had outperformed the market over the past one month till 15 May 2015, rising 0.92% compared with Sensex's 5.12% fall. The scrip had also outperformed the market in past one quarter, falling 6.06% as against Sensex's 6.09% fall.
The mid-cap bank has equity capital of Rs 48.48 crore. Face value per share is Re 1.
Jammu & Kashmir Bank's ratio of net non-performing assets (NPAs) to net advances stood at 2.77% as on 31 March 2015, compared with 3.22% as on 31 December 2014 and 0.22% as on 31 March 2014.
The bank's ratio of gross NPAs to gross advances stood at 5.97% as on 31 March 2015, compared with 5.81% as on 31 December 2014 and 1.86% as on 31 March 2014.
Provisions and contingencies jumped 528.62% to Rs 380.76 crore in Q4 March 2015 over Q4 March 2014. The provisioning coverage ratio as on 31 March 2015 stood at 59.02%.
The bank's Capital Adequacy Ratio (CAR) as per Basel III norms stood at 12.57% as on 31 March 2015, compared with 12.78% as on 31 December 2014 and 12.69% as on 31 March 2014.
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 31 March 2015.
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