Introduction
Q4 result Jammu and Kashmir Bank Result Released. According to an exchange filing, the private sector bank reported a peak annual profit of Rs 1,767 crore in fiscal 2023-24. Its net profit increased by 48% compared to last fiscal.
Jammu and Kashmir has announced a record-breaking annual profit of Rs 1,767 crore for the financial year 2023-24. According to Managing Director and CEO Baldev Prakash, it has registered a significant growth of 48% compared to the previous fiscal. Prakash expressed pride in surpassing the bank’s own previous profit record, highlighting that this achievement follows closely on the heels of last year’s record profits. He shared this information with PTI after the bank released its annual results.Intraday Stock for Tomorrow 2024
The profit rose 34 per cent to Rs 638.67 crore in 4FY24 from Rs 476.33 crore in the same quarter a year ago. This is also the historical highest level of quarterly profit.
According to an exchange filing, net profit rose 48% to Rs 1,767 crore in fiscal 2023-24, breaking the record profit achieved last year. The total income rose 10% to Rs 6,029.17 crore from Rs 5,502.09 crore. It made a profit of Rs 1,197 crore in the last financial year. The total deposits grew 10.44% year-on-year to Rs 1,34,774.89 crore as on March 31, 2024, from Rs 1,22,037.74 crore a year ago. Its net advances rose 14% to Rs 93,762.51 crore in the fourth quarter of FY 2023-24 from Rs 82,285.45 crore a year ago.
The bank will share historic profits with its shareholders by paying a record dividend of around Rs 236.75 crore this year. The bank has gifted dividends to its shareholders. The private bank declared a dividend of Rs 2.15 i.e. 215 per cent on face value of Rs 1.
On Friday, the stock closed up 0.43 percent at Rs 139.25. The stock’s 52-week high is 152.45 and low is 53.05 The market cap of the bank is Rs 15,333.97 crore. Talking about the stock returns, it has given a multibagger return of 125 percent in the last one year, while the stock returned 355 percent in 2 years and 480 percent in 3 years.
Q4 result Jammu and Kashmir Bank Result Released
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