J&K Bank Q1 net drops 11.5% to Rs 429 crore

Srinagar, Jul 29: Jammu and Kashmir Bank on Wednesday reported an 11.5 per cent decline in net profit at ₹428.80 crore in the first quarter of the current fiscal.

The private sector lender had a consolidated net profit of ₹484.53 crore in the April-June quarter of FY26.

Total income of the bank rose to ₹3,765 crore during June quarter of FY27, from ₹3,521 crore in the corresponding period of last fiscal, J&K Bank said in a regulatory filing.

During the quarter, the Bank’s Net Interest Income (NII) increased 2 per cent to ₹1,497 crore from ₹1,465 crore recorded in the corresponding period last year, while Net Interest Margin (NIM) stood at 3.28 per cent.

J&K Bank MD & CEO Amitava Chatterjee said, “Industry-wide phenomenon of elevated funding costs and sluggish low-cost deposit mobilisation pressured margins weighing on profitability during the quarter”.

Shares of J&K Bank were trading at ₹153.80, down 13.23 per cent over previous close on BSE. (PTI)