Capital First Q1 net profit rises 49% YoY based on stable growth

India Infoline News Service | Mumbai | August 03, 2016 16:59 IST

The growth in income was primarily driven by higher Net Interest Income, which grew 73% to Rs. 277.9 Crores in Q1 FY17, from Rs. 160.3 Crores in Q1 FY16.

Capital First Limited reported a Profit after Tax of Rs. 49.2 Crores for Q1 FY17, an increase of 49% from Rs 33.1 Crores in Q1 FY16. This is the highest ever quarterly profit in the history of the company.
For the quarter ended June 30, 2016, the Company reported a 49% increase in Profit after Tax to Rs.49.2 Crores in the quarter ending June 30, 2016, up from Rs.33.1 Crores in the quarter ended on June 30, 2015.

Commenting on the results, 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 AUM, on the back of stable asset quality. We continue to see strong growth in all our lines of businesses.”
The growth in income was primarily driven by higher Net Interest Income, which grew 73% to Rs. 277.9 Crores in Q1 FY17, from Rs. 160.3 Crores in Q1 FY16.This was supported by the growth in Fee Income, which grew 72% to Rs. 67.9 Crores in Q1 FY17, from Rs. 39.4 Crores in Q1 FY16.
The Company’s AUM stood at Rs.17,213 Crores as on June 30, 2016 with its retail loan portfolio contributing to 91.6% of its overall AUM as of June 30th, 2016. The retail loan book grew by 41% to Rs. 15,764 Crores as on June 30, 2016, up from Rs. 11,187 Crores as on June 30, 2015.
The company continued to maintain a high asset quality with Gross NPA of 1.18% and Net NPA of 0.60% as on June 30, 2016 as per the RBI’s revised120 DPD NPA recognition norms.
The Capital Adequacy Ratio of the Company stood at 18.7% as of June 30, 2016.

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