"Post demonetisation and GST roll out, a lot of formalisation in credit has happened and we are seeing a lot of demand for loans across the segments. All our retail financing businesses continue to grow well with steady asset quality," its founder and chairman, V Vaidyanathan said.
Non-banking finance company Capital First today reported a 35 percent jump in profit after tax at Rs 95.30 crore for the quarter ended March, helped by higher net interest income.
The company's net profit stood at Rs 70.8 crore in the year-ago period.
"Post demonetisation and GST roll out, a lot of formalisation in credit has happened and we are seeing a lot of demand for loans across the segments. All our retail financing businesses continue to grow well with steady asset quality," its founder and chairman, V Vaidyanathan said.
The net interest income (NII) for the company grew 56 percent to Rs 583.1 crore in the March quarter, against Rs 374.5 crore in the same quarter last year.
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Total income stood at Rs 712.0 crore, up 49 percent against Rs 476.5 crore in the year-ago quarter.
Gross non-performing asset (NPA) on 90-days past due basis stood at 1.62 percent in the March quarter, against 1.65 percent, while net NPA was stable at 1 percent.
For the entire financial year 2017-18, the company reported a 37 percent rise in net profit to Rs 327.4 crore, compared with Rs 238.9 crore in FY17.
The asset under management (AUM) for the firm grew 36 percent to Rs 26,997 crore as on March 31, 2018, compared with Rs 19,824 crore as on March 31, 2017.
The retail loan portfolio accounted for 94 percent of the overall AUM as of March 31, 2018.
The company's scrip ended at Rs 621.75, down 0.59 percent on the BSE, against 0.53 percent decline in the benchmark.