 "Capital First Q1 net profit rises 46% to Rs 45 crore")
Capital First on Wednesday reported 45.7% rise in net profit to Rs 45.18 crore for the first quarter ended June 30.
The company's net profit stood at Rs 31 crore in the corresponding quarter of 2015-16.
The total income April-June quarter rose to Rs 601.43 crore as against Rs 388.45 crore a year ago.
During the quarter, the company said it has changed its estimates with relation to provisioning for retail mortgage and housing loans.
"Consequent to the change in such estimates, provision and write off for the quarter ended June 2016 is higher by Rs 11.64 crore," it said in a BSE filing.
It has also accounted for provision on standard assets according to RBI guidelines, requiring an increased provision on standard assets, the company said.
As a result of which provision for standard assets for the quarter ended June 30, 2016 is higher by Rs 6.64 crore, it added.
Capital First, the non-banking financial company, is engaged mainly in financing.
Stock of the company closed 5.74 per cent down at Rs 686.65 on BSE.
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