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Jammu & Kashmir Bank Q4 loss widens to Rs 554.30 cr

Jammu & Kashmir Bank Ltd has reported that its net loss widened to Rs 554.30 crore in the January-March quarter of FY 17, on the back of rise in bad loans. It had posted standalone net loss of Rs 56.02 crore in the corresponding quarter of previous fiscal, said Jammu & Kashmir Bank in a filing to BSE.
Further, the total income of the bank remained almost flat at Rs 1,802.74 crore in Q4 FY17, against Rs 1,805.33 crore in Q4 FY16. During the quarter, provisions (other than tax) and contingencies jumped sharply to Rs 768.25 crore from Rs 726.28 crore in previous quarter and from Rs 397.11 crore in corresponding quarter of last fiscal.

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