Fullerton India Credit Q1 Net jumps 51% to Rs 43 cr

Fullerton India Credit Company today said its net profit for the first quarter of 2013-14 jumped by 51% to Rs 43 crore.

"Fullerton India Credit Company Limited registered a profit after tax of Rs 43 crore for the first quarter of the financial year 2013-14, a growth of 51% as against the corresponding period of previous financial year," the company said in a statement.

The company grew its customer assets by 22%, with disbursals increasing by 27% compared to the corresponding quarter of previous year, it added.

"The first quarter of the year continues the trend of strong traction, and stable growth. We will continue to expand our presence, and will invest in front-end customer facing infrastructure," company CEO and MD Shantanu Mitra said in the statement.

Fullerton India Credit Company is a wholly owned subsidiary of Fullerton Financial Holdings, Singapore, which is a subsidiary of Temasek Holdings of Singapore.