Financial services provider India Infoline today said its consolidated net profit grew 48 per cent in the first quarter to Rs 94 crore on increase in lending as well as capital market business.
The company had reported a net profit of Rs 63 crore during the same period last year.
"Steady growth in our NBFC and capital market business helped us in the first quarter," India Infoline Group Managing Director R Venkataraman said.
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The group's income grew 17 per cent to Rs 791 crore in the period as against Rs 676.4 crore during the same period last year.
Under the NBFC business, the loan portfolio stood at Rs 12,439 crore as on June 30, which is an increase of 31 per cent.
The NBFCs portfolio comprises mortgages, property loans, capital market products, gold loans, commercial vehicle loans and medical equipment financing.
Gross NPAs improved to 0.79 per cent from 0.86 per cent, while net NPAs stood at 0.23 per cent as against 0.33 per cent.
Net interest margin (NIM) for the quarter was 7.3 per cent and the spread was 6.7 per cent.
Venkataraman said the NBFC arm is eying a loan growth of 15-20 per cent in the current fiscal.
Income from the company's capital market operations rose 3 per cent to Rs 107 crore in the quarter. This segment comprises mainly of income from broking of equity, derivatives, commodities and currencies.
Income from the wealth management business grew 9 per cent to Rs 99 crore in the quarter, he said.
The company also said it has appointed Rajashree Nambiar as its Chief Executive Officer of India Infoline Finance.
