Non-banking finance company Capital First today reported 59 per cent rise in profit after tax to Rs 33.12 crore for the quarter ended June 2015, helped by steady growth in assets under management (AUM) and control on operating costs.
The profit after tax of the firm stood at Rs 20.85 crore during the April-June quarter in 2014.
The company's AUM stood at Rs 12,643 crore with its retail loan portfolio contributing to 85.2 per cent of its overall AUM, as on June 30, this year.
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Capital First's retail loan assets grew by 24 per cent to Rs 10,767 crore at June-end, compared to the period year-ago.
"We are happy to report 59 per cent growth in net profit for the quarter on a year-on-year basis based on a steady growth in AUM and control on the operating costs as well as asset quality," Capital First chairman V Vaidyanathan said in a statement.
"We will continue our focus on the retail financing assets and strengthen it further with help of contemporary technology and robust processes," Vaidyanathan added.
The growth in income was primarily driven by higher net interest income, which grew 39 per cent to Rs 160.35 crore in the first quarter of 2015-16.
This was supported by the growth in fee income, which rose by 36 per cent to Rs 39.39 crore in the quarter-ending June 2015.
