Jammu & Kashmir Bank Q1 results: Net profit decreased by 65.50% to Rs. 7.30 crores for FY21
Jammu and Kashmir Bank Q1 results: It is one of the biggest state-possessed booked business banks in India situated in Jammu and Kashmir. The bank offers types of assistance in corporate and institutional banking, business banking, branch, and business banking tasks across India. The bank work as a universal bank in Jammu and Kashmir, while in different states it goes about as a specific bank. The current Chief Executive Officer (CEO) of the organization is R.K. Chhibber.
Then, on Friday, September eleventh, the state-claimed bank revealed its Q1 results for the Financial Year 2020-21. While, the bank's solidified net benefit diminished by 65.50% to Rs. 7.30 crores in this quarter finished on June 30th, 2020. While the bank likewise detailed its merged net benefit of Rs. 21.15 crores in a similar quarter last financial year. Consecutively, the bank additionally posted its total deficit of Rs. 293.82 crores in the past quarter finished on March 31st, 2020.
Also, the bank's complete pay during this quarter diminished to Rs. 2,160.51 crores in Q1FY21. The bank likewise posted its absolute pay of Rs. 2,257.42 crores in a similar quarter last monetary year. The bank made extra arrangements identified with COVID-19 for this quarter remained at Rs. 147.50 crores.
On the opposite side, the bank's provisions and possibilities against terrible advances remained at Rs. 266.37 crores as against Rs. 293.21 crores in a similar quarter a year ago. The bank's arrangement inclusion proportion (PCR) during this quarter expanded by 80.75% in Q1FY21.
Thus, the gross non-performing assets (NPAs) of the bank expanded by 10.73% as against 8.48% in a similar quarter last money related year. While the net non-performing resources (NPA) of the bank diminished by 3.05% as against 4.36% in a similar period a year ago.
Notwithstanding, the portions of Jammu and Kashmir Bank (VI) announced a bearish pattern in the securities exchange on Friday. The bank lost 0.10 focuses with a 0.28% diminishing and arrived at 17.70 INR. While in BSE, the organization lost 0.100 focuses with a 0.56% lessening and arrived at 17.70 INR.
Stock Market September 11th:
On Friday, both Sensex and Nifty proceeds with its bullish pattern in the securities exchange from the last meeting. The Sensex is exchanging over 38,800 levels and the Nifty is exchanging under 11,400 levels in the securities exchange. The Sensex increased 55.80 focuses with a 0.14% expansion and arrived at a 38,899.43 level. While Nifty increased 26.35 focuses with a 0.23% expansion and arrived at 11,475.60 level.
On the opposite side, the quantity of Covid cases in India arrived at 45,62,414 as of Friday, September eleventh, and passings arrived at 76,271.
In the outskirt advertises, the S&P BSE SmallCap revealed a bullish pattern in the securities exchange on Friday. It increased 80.09 focuses with a 0.55% expansion and arrived at 14,564.23 level. The S&P BSE MidCap increased 78.89 focuses with a 0.54% expansion and arrived at a 14,652.77 level. While the Nifty Bank increased 16.35 focuses with a 0.07% expansion and arrived at the 22,482.80 level.
Top Gainers on September eleventh: Wipro, SBI, Tech Mahindra, TCS, and UPL are the top gainers in the present securities exchange.
Top Losers on September eleventh: Zee Entertainment, IndusInd Bank, Power Grid Corporation, Coal India, and Bharti Airtel are the top washouts in the present securities exchange.