Jammu & Kashmir Bank Q1 Net Drops 11.5% to Rs 429 Cr

New Delhi: Jammu & Kashmir Bank on Wednesday reported an 11.5 per cent decline in net profit at Rs 428.80 crore in the first quarter of the current fiscal.

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

Total income of the bank rose to Rs 3,765 crore during June quarter of FY27, from Rs 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 Rs 1,497 crore from Rs 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 Rs 153.80, down 13.23 per cent over previous close on BSE.

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)