MUMBAI, 11th November, 2014: Capital First Limited reported a 278% increase in Profit after Tax to Rs. 27.05 crores in the quarter ending Sep 30, 2014, up from Rs 7.16 crores in the quarter ended on Sep 30, 2013.
The growth in income was primarily driven by higher NII and Fee income, which together grew 51% to 154.84 Crores in Q2 FY 15, from Rs. 102.40 Crores in Q2 FY 14.
The Company reported a 263% increase in Profit before Tax to Rs. 41.70 crores the quarter ended on Sep 30, 2014, up from Rs. 11.48 crores in the quarter ended on Sep 30, 2013.
The Company’s AUM grew 34% to Rs. 11,047 Crores as on Sep 30, 2014; up from Rs. 8,244 Crores as on Sep 30, 2013.The Company has grown its retail financing portfolio to 84% of its overall AUM as of Sep 30 2014, as compared to 79% as of Sep 30 2013.
The Company continues to maintain high Asset Quality and reported Gross NPA of 0.56% and net NPA of 0.01% for the quarter ending on Sep 30, 2014. The Gross and Net NPA were 0.41% and 0.17% respectively on Sep 30, 2013.
The Capital Adequacy of the Company stood at 21.0 % as of Sep 30, 2014.The total Capital (Tier 1 and Tier 2) stood at Rs. 1898Crores as of Sep 30, 2014.
Commenting on the results, Mr. V Vaidyanathan, Chairman of the Company said, “The sentiment in the Indian economy has significantly heightened since the start of this financial year. We are very bullish on our growth prospects in the MSME financing sector which has a direct play on the Indian economy.”