Money & Banking

Capital First profit up 45%

Our Bureau Mumbai | Updated on January 24, 2018

Capital First (CFL) reported a 45 per cent jump in third quarter standalone net profit at ₹81 crore, against ₹56 crore in the year-ago quarter.

Revenue from operations of the non-banking finance company was up 33 per cent year-on-year (y-o-y) at ₹939 crore.

Total expenses rose 29 per cent to ₹817 crore.

On consolidated basis, including the numbers of Capital First Home Finance, Capital First Securities and Capital First Commodities, the company’s net profit in the reporting quarter was up 42 per cent to ₹87 crore (₹61 crore in the year-ago period). CFL’s assets under management (AUM) grew 32 per cent y-o-y to ₹24,755 crore as on December 31, 2017.

V Vaidyanathan, Founder and Chairman, Capital First, said, “We continue to see strong growth momentum in all our businesses…Our asset quality continues to be of high order, even over economic cycles and events, including demonetisation and GST implementation, with gross NPA at 1.59 per cent (unchanged from the year-ago period) and net NPA of 0.97 per cent (1 per cent).”

CFL’s shares closed at ₹771.30 apiece, down 0.92 per cent over the previous close on the BSE.

Published on January 24, 2018

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