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Capital First has reported a 50 per cent increase in standalone net profit at ₹42 crore in the quarter ending December 31, 2015, against ₹28 crore in the year-ago period.
The non-banking finance company, which specialises in micro, small and medium enterprise (MSME) and consumer financing, reported a 29 per cent increase in income from operations at ₹486 crore (₹376 crore in the year-ago quarter).
Expenses, including those for employee benefits and provision and write-offs, were up 50 per cent at ₹193 crore (₹129 crore). Provision and write-offs more than doubled to ₹62 crore (₹30 crore).
Interest income The company, in a statement, said the growth in income was primarily driven by higher net interest income, which grew 53 per cent to ₹217.57 crore (₹142.44 crore). Its assets under management (AUM) stood at ₹14,973 crore as on December 31, 2015, with its retail loan portfolio accounting for 85.25 per cent of its overall AUM.
Retail loan assets grew 30 per cent year-on-year to ₹12,764 crore as of December-end 2015.
Loan book expansion V Vaidyanathan, Chairman of Capital First, attributed the growth in net profit to the consistent expansion of the loan book and steady asset quality.
Shares of Capital First closed at ₹396.40 apiece, down 1.45 per cent over the previous close on the BSE.
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