The Jammu and Kashmir Bank Limited Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended December 31, 2017
January 31, 2018 at 10:44 am
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The Jammu and Kashmir Bank Limited announced unaudited earnings results for the third quarter and nine months ended December 31, 2017. For the quarter, the company reported interest earned was INR 16,829.7 million against INR 16,495.3 million a year ago. Total income was INR 17,907.7 million against INR 17,702.0 million a year ago. Operating profit before provisions and contingencies was INR 3,827.4 million against INR 2,930.4 million a year ago. Profit from ordinary activities before tax was INR 1,326.3 million against loss from ordinary activities before tax of INR 4,332.4 million a year ago. Net profit was INR 724.7 million against net loss of INR 4,984.7 million a year ago. Basic and diluted earnings per share after extraordinary items were INR 1.30 against basic and diluted loss per share after extraordinary items of INR 10.28 a year ago.
For the nine months, the company reported interest earned was INR 50,297.2 million against INR 50,078.1 million a year ago. Total income was INR 53,527.6 million against INR 53,759.2 million a year ago. Operating profit before provisions and contingencies was INR 11,154.1 million against INR 10,179.8 million a year ago. Profit from ordinary activities before tax was INR 3,437.8 million against loss from ordinary activities before tax of INR 10,140.8 million a year ago. Net profit was INR 1,743.0 million against net loss of INR 10,779.9 million a year ago. Basic and diluted earnings per share after extraordinary items were INR 7.41 against basic and diluted loss per share after extraordinary items of INR 22.24 a year ago.
Jammu and Kashmir Bank Limited (the Bank) is engaged in banking and financial services. Its segments include Retail, Corporate and Treasury. The Bank offers a range of products and services, such as loans, personal accounts, term deposits, insurance, cards, business accounts, agriculture loans and others. The Bank offers a range of retail credit products, including home finance, personal loans, education loans, agriculture lending, trade credit and consumer credit and a number of financial products tailored to the needs of various customer segments. It provides loans, such as housing loan, consumer loan, JK bank personal consumption loan scheme, laptop/ pc finance, festival advance scheme, education loan scheme and others. It operates through over 996 branches and 1414 Automated Teller Machine spread over 18 states and four union territories across the country. It serves different sectors, such as employees of the government, semi-government and autonomous bodies, farmers, and others.