Quarterly Results: Jammu and Kashmir Bank Ltd
Bhagyashree Vivarekar / 15 Dec 2016
Jammu and Kashmir Bank Ltd had a net loss of Rs 602 cr during Q2FY17 against a net profit of Rs 196 cr during Q2FY16. It is is currently trading at Rs. 60.8, down by 0.45 points or 0.73% from its earlier closing of Rs. 61.25 on the BSE.
Technical View:
Jammu and Kashmir Bank Ltd., is currently trading at Rs. 60.8, down by 0.45 points or 0.73% from its earlier closing of Rs. 61.25 on the BSE.
The scrip has touched a high and low of Rs. 61.85 and Rs. 60.55 respectively, after opening at 61.45. By far 454126(NSE+BSE) shares have been traded on the counter; and the stock is currently trading above its 200 DMA.
Standalone Results Q2FY17:
Jammu & Kashmir Bank has reported its Q2FY17 standalone results after market hours.
NII for the period stands at Rs 641 cr, exhibiting a 7.6% yoy drop.
Gross NPA’s have surged 84.4% you to Rs 5683 cr leading to a ~500 bps worsening of asset quality. Thereby, Gross NPA as a percentage of Gross Advances stands at 11.3%.
Provisions for bad loans have surged 681.1% yoy to Rs 992 cr.
The higher provisioning has resulted in a net loss of Rs 602 cr during Q2FY17 against a net profit of Rs 196 cr during Q2FY16.
Q2FY17 Capital Adequacy Ratios (CAR), Basel III and CET I, have been posted at 11.05% and 9.60%, respectively.
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