February 10 2016, 17.54 PM IST || Pocket News Alert
MUMBAI, 10th February, 2016:
Capital First Limited reported a 49% increase in Profit after Tax to Rs. 44.53 Crores in the quarter ending December 31st, 2015, up from Rs. 29.91 Crores in the quarter ended on December 31st, 2015.
The growth in income was primarily driven by higher Net Interest Income, which grew 53 % to Rs. 217.57 Crores in Q3 FY 16, from Rs. 142.44 Crores in Q3 FY15.This was supported by the growth in Fee Income, which grew 35 % to Rs. 44.77 Crores in Q3 FY 16, from Rs. 33.06 Crores in Q3 FY15.
The Core Income (Net Interest Income + Fee Income) of the Company grew 49% to Rs. 262.35 Crores in Q3 FY 16, from Rs. 175.50 Crores in Q3 FY15.
The Profit before Tax grew 49 % to Rs. 67.76 Crores in Q3 FY 16, from Rs. 45.36 Crores in Q3 FY15.
The Company’s AUM stood at Rs. 14,973 Crores as on December 31st, 2015 with its retail loan portfolio contributing to 85.25% of its overall AUM as of December 31st, 2015. The retail loan assets grew by 30% from Rs. 9,842 Crores as on December 31st, 2015 to Rs. 12,764 Crores as on December 31st, 2015.
The Company continues to maintain high Asset Quality. According to the revised 151-DPD NPA recognition, the Gross NPA and Net NPA stood at 0.89% and 0.46% respectively as on December 31st, 2015.
The Capital Adequacy Ratio of the Company stood at 20.01% as of December 31st, 2015.
Commenting on the results, Mr. V Vaidyanathan, Chairman, Capital First said, “We are happy to report 49% growth in net profit for the quarter on a year-on-year basis based on a steady growth in Loan Book and steady asset quality. We will continue our focus on the retail financing and strengthen it further with help of contemporary technology and robust processes.”
