Capital First Limited reported a Profit after Tax of Rs. 238.9 Crores for FY17, an increase of 44% from Rs. 166.1 Crores in FY 16. Capital First Limited reported a Profit after Tax of Rs. 70.8 Crores for Q4 FY17, an increase of 49% from Rs.47.5 Crores in Q4 FY 16. This is the highest ever quarterly profit in the history of the company.
The Net Interest Income grew 59% to Rs. 1,300.8 Crores in FY17 from Rs. 818.1 Crores in FY16. Total Income including fees grew 65% to Rs. 1,640.3 Crores in FY17, from Rs. 991.8 Crores in FY16.
The Company’s AUM grew Rs. 19,824 Crores as on March 31st, 2017 with its retail loan portfolio contributing to 93% of its overall AUM as of March 31st, 2017. The retail loan book grew by 33% to Rs. 18,353 Crores as on March 31st, 2017, up from Rs. 13,756 Crores as on March 31st, 2016.
The Gross NPA of the Company has come down to 0.95% as of 31 March 2017 (on 120 DPD NPA recognition) as compared to 1.08% as of 31 March 2016 (on 150 DPD NPA recognition). The Net NPA of the Company has come down to 0.30% as of 31 March 2017 (on 120 DPD NPA recognition) as compared to 0.56% as of 31 March 2016 (on 150 DPD NPA recognition). The Provision Coverage Ratio has improved to 69% as of 31 March 2017 as compared to 48% as of 31 March 2016. The Company has not opted for 90 days relaxation extended by RBI for recognition of sub-standard assets.
The Capital Adequacy Ratio of the Company stood at 20.35% as of March 31st, 2017.
Commenting on the results, Mr. V Vaidyanathan, Founder & Chairman, Capital First said, “We are happy to report 44% growth in net profit for the full year FY17. Despite the effect of Demonetization during the third quarter, our asset quality continues to be of high order with Gross NPA at 0.95% and Net NPA of 0.30%. Overall loan assets of the Company grew by 24% and the retail loan assets grew by 33%. We are confident about growing strongly in all our retail business segments.”