Capital First Net Jumps 49 pc
May 10 Small-sized non-banking finance company Capital First today reported a 49 per cent rise in net profit at Rs 70.8 crore in March quarter, helped by a healthy growth in net interest income.
Our retail loan book is driving net interest income, which has grown 56 per cent in the fourth quarter," its founder and chairman V Vaidyanathan said.
NII for the quarter stood at Rs 476 crore against Rs 305 crore in the year-ago period.
Retail loan book grew 33 per cent to Rs 18,353 crore, up from Rs 13,756 crore last year.
Gross NPA stood at 0.95 per cent (on 120 days past due compared to 1.08 per cent (on 150 day recognition) in the same quarter last year.
Net NPA was at 0.30 per cent (on 120 days recognition) compared to 0.56 per cent (on 150 days recognition) last year.
Despite the effect of demonetisation during the third quarter, our asset quality continues to be of high order with gross NPA at 0.95 per cent and net NPA of 0.30 per cent," Vaidyanathan said.
He expects loan growth of 23-25 per cent during the current fiscal.
Its assets under management grew to Rs 19,824 crore with its retail loan portfolio contributing to 93 per cent of its overall AUM.
Source: Out Look Business