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Jammu and Kashmir Bank Ltd Q2FY24; 60% rise in Profits

Jammu & Kashmir Bank (J&K Bank), incorporated in Jammu & Kashmir, India, is a publicly held banking company engaged in providing a wide range of banking services including Retail Banking, Corporate Banking & Treasury Operations.
It is the only Private Sector Bank in the country assigned with responsibility of convening State/UT Level Bankers’ Committee (SLBC/UTLBC) meetings. The Bank continued to discharge its lead bank responsibility satisfactorily in 12 districts of UT of J&K, i.e. Srinagar, Ganderbal, Budgam, Baramulla, Bandipora, Kupwara, Anantnag, Kulgam, Pulwama, Shopian, Poonch and Rajouri.

Financial Results:

  • Jammu and Kashmir Bank Ltd reported Revenues for Q2FY24 of ₹2,764.00 Crores up from ₹2,299.00 Crore year on year, a rise of 20.23%.
  • Total Expenses for Q2FY24 of ₹2,412.00 Crores up from ₹2,040.00 Crores year on year, a rise of 18.24%.
  • Consolidated Net Profit of ₹384.00 Crores up 60.0% from ₹240.00 Crores in the same quarter of the previous year.
  • The Earnings per Share is ₹3.72, up 49.40% from ₹2.49 in the same quarter of the previous year.

*It is important to note that the way the results have been accounted for are slightly different than the ones the companies may choose to publish.
*The presented data is automatically generated. It may occasionally generate incorrect information.

Tags: Banking
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