The Jammu & Kashmir Bank Q2 FY27 Results: Consolidated Net Profit ₹547 Crore on Total Income of ₹3,729 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Consolidated net profit rose 28.7% to ₹547.30 crore from ₹425.32 crore in the previous quarter, faster than total income, which rose 5.1% to ₹3,728.78 crore. Profit before tax rose 15.7% to ₹718.07 crore. Net profit grew faster than profit before tax; tax expense fell 12.6%, from ₹195.48 crore to ₹170.77 crore.

The consolidated figures in the table are before the Group's share of profit of its associate, Jammu and Kashmir Grameen Bank, in which the Bank holds 35%. That share was ₹5.40 crore in the quarter and ₹3.48 crore in the previous quarter. The statement adds it after tax and shows ₹552.70 crore for the quarter.

The consolidated results carry the same notes on investments and reserves as the standalone results. They include a ₹263.63 crore transfer from the Investment Fluctuation Reserve to the General Reserve, and ₹215.76 crore of accrued discount reclassified from other assets to investments, which the notes say has no impact on profit.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone net profit rose 28.8% to ₹546.36 crore from ₹424.18 crore in the previous quarter and 10.6% from ₹494.11 crore a year earlier. Total income rose 5.1% to ₹3,727.09 crore over the quarter, so profit grew faster than income on the quarter-on-quarter comparison. Profit before tax rose 15.8% to ₹716.80 crore, and tax expense fell 12.6%, to ₹170.44 crore from ₹195.06 crore.

Other income was ₹314.90 crore, up 104.8% from ₹153.76 crore a year earlier and 47.1% from ₹214.02 crore in the previous quarter. It made up 8.4% of total income. The notes say ₹28.88 crore of prior-period appreciation on unlisted equity investments is included in other income for the quarter and half year. Excluding it, the filing puts half-year other income at ₹500.04 crore, against ₹528.92 crore reported.

The notes describe a change in accounting for priority sector lending certificates (PSLCs), effective 1 April 2026. They say it raised profit after tax for the half year by ₹7.53 crore. Of the PSLC commission expenditure from the June quarter, ₹50.15 crore has been charged to profit up to 30 September, and the balance will be amortised over the PSLC validity period.

The press release reports asset quality improving: the gross NPA ratio was 2.2%, down 109 bps from a year earlier, the net NPA ratio was 0.51% against 0.76%, and the provision coverage ratio was 91.8%, against 90.53% at 30 June 2026. Net interest income was ₹1,502 crore, and the cost-to-income ratio was 56.6%.

Inference

Capital: the press release gives CRAR of 16.6% at 30 September 2026, against 15.27% a year earlier. The notes say the unrealised gain of ₹96.89 crore, net of tax, on unlisted equity investments is deducted from CET1 capital and is not available for dividend.

The filing does not give earnings per share or a dividend, and does not say why net profit rose in the quarter. The press release says total business reached ₹3,10,347 crore, up 19.38%, and that the Bank aims for ₹5 lakh crore under its Vision 2030 aspiration.

Reference: Original filing (PDF)