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Jammu & Kashmir Bank rallies on reporting 8-fold jump in Q4 net profit

The Jammu & Kashmir Bank is currently trading at Rs. 55.95, up by 1.80 points or 3.32% from its previous closing of Rs. 54.15 on the BSE.

The scrip opened at Rs. 56.80 and has touched a high and low of Rs. 57.30 and Rs. 55.10 respectively. So far 278734 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 1 has touched a 52 week high of Rs. 65.95 on 10-Apr-2019 and a 52 week low of Rs. 35.05 on 18-Dec-2018.

Last one week high and low of the scrip stood at Rs. 57.75 and Rs. 50.60 respectively. The current market cap of the company is Rs. 3135.11 crore.

The promoters holding in the company stood at 59.23%, while Institutions and Non-Institutions held 23.68% and 17.09% respectively.

The Jammu & Kashmir Bank has reported around 8-fold jump in its net profit at Rs 214.80 crore for the quarter ended March 31, 2019, as compared to Rs 28.41 crore for the same quarter in the previous year. Total income of the Bank increased by 40.22% at Rs 2,473.47 crore for the quarter under review as compared Rs 1,763.95 crore for the quarter ended March 31, 2018.

For the year ended March 31, 2019, the Bank has posted over 2-fold jump in its net profit at Rs 464.89 crore as compared to Rs 202.72 crore for the same period in the previous year. Total income of Bank increased 19.27% at Rs 8,488.19 crore for year under review as compared to Rs 7,116.71 crore for the period ended March 31, 2018.

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