Capital First net up 49% to Rs 44.53 crore

Small-size non-banking finance company Capital First today reported a net profit of Rs 44.53 crore in the December quarter, a growth of 49 per cent from Rs 29.91 crore a year ago.
Growth in net income was primarily driven by higher net interest income that grew 53 per cent to Rs 217.57 crore from Rs 142.44 crore a year ago, the company said in a statement.
This was supported by the growth in fee income, which grew 35 per cent to Rs 44.77 crore, from Rs 33.06 crore.
Company chairman V Vaidyanathan attributed the higher bottomline to a steady growth in advances and steady asset quality.

"We will continue our focus on the retail financing and strengthen it further," he added.
The core net interest income grew 49 per cent to Rs 262.35 crore from Rs 175.50 crore.
The company's loan book stood at Rs 14,973 crore with its retail loan portfolio contributing to 85.25 per cent of it, which grew 30 per cent from Rs 9,842 crore to Rs 12,764 crore.
Its gross NPAs and net NPAs stood at 0.89 per cent and 0.46 per cent respectively.