Capital First net jumps 49% to Rs 71 crore in Mar qtr

Non-banking finance company Capital First has posted an over 49 per cent jump in its net profit at Rs 70.83 crore for the fourth quarter ended March 2017 on higher income from operations.
The company had registered a net profit of Rs 47.50 crore in the corresponding January-March quarter of 2015-16.
For the full fiscal 2016-17, its net profit grew by 44 per cent to Rs 238.92 crore in the previous financial year.
Total income of the company rose to Rs 751.60 crore during the January-March quarter, up 34.6 per cent from Rs 558.33 crore in the same period a year ago, it said in a regulatory filing.

On a full year basis, company's total income was up by 47.7 per cent to Rs 2,789.94 crore against Rs 18,88.06 crore in 2015-16.
Capital First said its board of directors have recommended a dividend of Rs 2.60 per share for 2016-17.

Total assets of the company at the end of March 2017 rose to Rs 17,655.17 crore from Rs 14,525.05 crore year earlier.
The company also informed that there was an increase in its gross non-performing assets by Rs 53.43 crore due to RBI's revised asset classification norms.
However, there is no significant impact of this change on provision for 2016-17, it said.

The board of the company also approved a fund raising plan of up to Rs 500 crore through various means including foreign currency convertible bonds, rupee denominated bonds and qualified institutional placement.
Stock of Capital First closed 0.67 per cent up at Rs 794.85 on BSE today.