New Delhi: Jammu & Kashmir Bank on Wednesday reported an 11.5 percent decline in net profit at Rs 428.80 crore in the first quarter of the current fiscal.

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The private sector lender had a consolidated net profit of Rs 484.53 crore in the April-June quarter of FY26.

Total income of the bank rose to Rs 3,765 crore during June quarter of FY27, from Rs 3,521 crore in the corresponding period of last fiscal, J&K Bank said in a regulatory filing.

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During the quarter, the Bank's Net Interest Income (NII) increased 2 percent to Rs 1,497 crore from Rs 1,465 crore recorded in the corresponding period last year, while Net Interest Margin (NIM) stood at 3.28 per cent.

J&K Bank MD & CEO Amitava Chatterjee said, "Industry-wide phenomenon of elevated funding costs and sluggish low-cost deposit mobilisation pressured margins weighing on profitability during the quarter".

Shares of J&K Bank were trading at Rs 153.80, down 13.23 percent over previous close on BSE.

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