Jammu & Kashmir (J&K) Bank on Wednesday reported a fall of 57.77% in its net profit for the quarter ended Jun. 30, 2014. The bank earned a profit of Rs 1.30 billion for the quarter ended Jun. 30, 2014.

The bank's quarterly income totalled at Rs 18.99 billion, an increase of 10.63% over Rs 17.17 billion in the same period a year ago.

The bank has made provision of Rs 2.47 billion, which was higher by 6.81 times from prior year period.

Net NPA was at Rs 9,684.9 million for the quarter ended Jun. 30, 2014, as compared to Rs 561.2 million in the same period last year, representing an increase of 17.26 times.

In percentage term, net NPAs were at 2.18% at the end of the quarter, Jun. 30, 2014, up from 0.14% from last year period.

Capital adequacy ratio (CAR) under Basel III of the bank was at 12.93% as on Jun. 30, 2014.

Shares of the bank plunged 8.5% to trade at Rs 1444.40.