Refile: BUZZ-India's Jammu & Kashmir Bank up 5% after Q3 profit surges

Jammu And Kashmir Bank

24/01/2023 04:51

(Corrects typo in third bullet)
    ** Shares of public lender Jammu & Kashmir Bank  JKBK.NS  up
as much as 5.24% at 57.20 rupees, its biggest intraday pct gain
since Jan. 13
    ** JKBK hits highest in a week; if gains hold, on track to
snap two straight sessions of losses 
    ** JKBK on Monday, after market close, reported Q3 net
profit of 3.12 bln rupees ($38.20 million), up 79% from a year
ago
    ** The bank's qtrly interest earned rose ~21% to 24.41 bln
rupees
    ** Net Interest Margin for Q3 stood at 4.10%, highest in
last 7 years - JKBK 
    ** JKBK's asset quality improved in the qtr, with gross NPA
ratio down 168 bps YoY to 7.25%, while net NPA ratio moderated
YoY by 94 bps to 2.08% 
    ** More than 5.95 mln shares changed hands by 09:47 a.m. IST
vs 30-day moving avg of 12.76 mln shares
    ** Stock fell ~56% in 2022;  
($1 = 81.6700 Indian rupees)
 (Reporting by Hritam Mukherjee in Bengaluru)
 ((Hritam.Mukherjee@thomsonreuters.com; +91 9830427878))