Jammu, August 11: Financial year’s quarterly ending on 3 June did not mean good news for Jammu and Kashmir Bank Private Ltd as the organization saw a sharp fall in profits which are of the order of a staggering 86.6 percent compared to last years of the corresponding time.
This year’s quarterly profits for the bank stand at Rs 22.88 crore whereas for the corresponding quarter last year, the bank had registered profits of Rs. 158.76 crore.
The bank had registered losses worth Rs 56.02 crore in the last quarterly of the previous financial year, however, the profits in this quarterly are being seen as an improvement.
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