Capital First Q2 net up 36% driven by higher NII

Non-banking finance company Capital First today reported a 36 per cent jump in its net profit at Rs 78.3 crore in the quarter ended September, helped by rise in its net interest income (NII).
Its profit after tax was at Rs 57.6 crore in the year-ago quarter.
"We are happy to report 36 per cent growth in net profit for the quarter on a year-on-year basis based on a steady growth in AUM, on the back of stable asset quality," the company's chairman V Vaidyanathan said.
The net interest income grew 48 per cent to Rs 466 crore in the quarter from Rs 315.1 crore last year.

Fee income stood at Rs 98.3 crore, up 31 per cent to as against Rs 75.1 crore.
The asset under management (AUM) increased by 28 per cent to Rs 22,974 crore from Rs 17,936 crore last year same period.

The retail loan portfolio contributes to 93 per cent of the overall AUM as of end-September.
The retail loan book grew by 32 per cent to Rs 21,328 crore from Rs 16,163 crore last year same quarter.
It expects its loan book to grow by 32-35 per cent over the last year to Rs 25,000-27,000 crore by the end of the current fiscal.

The company plans to raise up to Rs 4,000 crore from the debt market in the rest of the fiscal. It is also in talks with ADB to raise USD 155 million.
The asset quality of the company was stable with the gross NPA of 1.63 per cent and net NPA of 1 per cent as on September, 2017 as per the 90 DPD NPA recognition norms.
The capital adequacy ratio was at 18.81 per cent as of September 30, 2017.
It's scrip ended at Rs 755.85, up 5.54 per cent on the BSE which closed today at 33,213.13, down 0.16 per cent.