Jammu and Kashmir Bank Ltd's Q3FY25 Quarter Results
- 22 Jan 2025
Result Summary
- Jammu and Kashmir Bank Ltd reported a 0.8% quarter-on-quarter (QoQ) increase in its consolidated revenues for the quarter-ended Dec (Q3FY25). On a year-on-year (YoY) basis, it witnessed a growth of 12.5%.
- Its expenses for the quarter were up by 2.6% QoQ and 7.5% YoY.
- The net profit decreased 4.4% QoQ and increased 25.0% YoY.
- The earnings per share (EPS) of Jammu and Kashmir Bank Ltd stood at 4.8 during Q3FY25.
Financial Statments for Q3FY25
| (₹ crores) | Q3FY25 | Q2FY25 | Q3FY24 | QoQ (%) | YoY (%) |
|---|---|---|---|---|---|
Total Income | 3451.71 | 3424.31 | 3066.97 | 0.8% | 12.5% |
Total Expenses | 2703.05 | 2634.96 | 2515.54 | 2.6% | 7.5% |
Provisions & contingencies | -9.80 | 32.52 | -9.43 | -130.1% | 3.9% |
Profit Before Tax | 758.46 | 756.83 | 560.86 | 0.2% | 35.2% |
Tax | 226.54 | 204.16 | 139.07 | 11.0% | 62.9% |
Profit After Tax | 528.60 | 552.78 | 422.77 | -4.4% | 25.0% |
Earnings Per Share | 4.80 | 5.00 | 4.00 | -4.0% | 20.0% |
Data Source: BSE, Company announcements The securities quoted are exemplary and are not recommendatory. Past performance is not indicative of future results
Company Overview
Jammu and Kashmir Bank Ltd is a prominent financial institution based in India. The bank primarily operates in the banking and financial services industry, offering a wide range of products and services, including retail banking, corporate banking, and treasury operations. The bank serves a significant number of customers in the region, contributing to its status as a key player in the local banking sector. Recent major developments affecting the broader banking industry, such as regulatory changes or economic conditions, might impact the bank's operational landscape, but specific developments pertaining to Jammu and Kashmir Bank Ltd are not detailed in the provided data.
Revenue
In the third quarter of the fiscal year 2025 (Q3FY25), Jammu and Kashmir Bank Ltd reported a total income of ₹3451.71 crores. This marks a 0.8% increase from the previous quarter (Q2FY25), where the total income was ₹3424.31 crores. Year-over-year, the total income saw a substantial rise of 12.5% compared to ₹3066.97 crores in Q3FY24. This upward trend in total income indicates a steady revenue growth over the past year, contributing positively to the bank's financial performance.
Profitability
The bank's profitability metrics for Q3FY25 include a profit before tax (PBT) of ₹758.46 crores, which represents a slight 0.2% increase from ₹756.83 crores in Q2FY25. Compared to Q3FY24, the PBT increased significantly by 35.2% from ₹560.86 crores. However, the profit after tax (PAT) for Q3FY25 stood at ₹528.60 crores, reflecting a decrease of 4.4% quarter-over-quarter from ₹552.78 crores in Q2FY25. Year-over-year, the PAT increased by 25.0% from ₹422.77 crores in Q3FY24. The tax expense for the quarter was ₹226.54 crores, a notable 11.0% increase from the previous quarter and a 62.9% increase year-over-year, impacting the net profitability.
Operating Metrics
The total expenses for Jammu and Kashmir Bank Ltd in Q3FY25 amounted to ₹2703.05 crores, which is a 2.6% increase from ₹2634.96 crores in Q2FY25 and a 7.5% increase year-over-year from ₹2515.54 crores in Q3FY24. The provisions and contingencies for the quarter were recorded at a negative ₹9.80 crores, compared to ₹32.52 crores in Q2FY25, showing a decline of 130.1% quarter-over-quarter. This figure also indicates a slight increase of 3.9% from negative ₹9.43 crores in Q3FY24. The earnings per share (EPS) for Q3FY25 was ₹4.80, which decreased by 4.0% from ₹5.00 in Q2FY25 but saw a 20.0% increase year-over-year from ₹4.00 in Q3FY24. These operating metrics highlight the bank's cost management and operational efficiency over the reporting periods.
