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Recently listed non banking financial company (NBFC) Northern Arc Capital shares rose 8.57 per cent at Rs 252 a piece on the BSE in Tuesday’s intraday deals. This came after the company reported its second quarter earnings for the financial year 2024-25 (Q2FY25).
In Q2FY25, Northern Arc reported a lending AUM increase of 22 per cent year-on-year to Rs 12,309 crore as of September 30, 2024. The Fund AUM under Alternative Investment Funds (AIF) reached Rs 2,812 crore, with a Gross Transaction Volume of Rs 9,116 crore for the quarter.
Disbursements grew by 23 per cent year-on-year to Rs 5,035 crore. The share of Direct to Customer lending rose to 52 per cent, compared to 43 per cent the previous year.
Financially, Northern Arc saw its Net Interest Income grow by 47 per cent year-on-year to Rs 288 crore, and fee and other income increased by 29 per cent to Rs 26 crore.
Pre-provision operating profit rose by 74 per cent to Rs 212 crore, with a credit cost of Rs 78 crore for the quarter. Profit After Tax grew by 24 per cent year-on-year to Rs 98 crore. The Return on Assets remained stable at 3.1 per cent.
The company’s asset quality dropped as Northern Arc reported a Gross NPA ratio of 0.60 per cent and a Net NPA ratio of 0.18 per cent as of September 30, 2024. In the June quarter the company reported Gross NPA ratio of 0.47 per cent and Net NPA ratio of 0.12 per cent.
Regarding capital adequacy, the company's capital adequacy ratio was 24.9 per cent as of September 30, 2024. On the other hand the provisioning coverage ratio on Stage III assets stood at 72 per cent.
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Shares of Northern Arc Capital have declined 8.1 per cent compared to its issue price of Rs 263, the IPO was listed on the stock exchange on September 24, 2024.
The company has a total market capitalisation of Rs 3,898.92 crore. At 12:31 PM, the stock price of the company was up 6.76 per cent at Rs 247.80 a piece on the BSE. By comparison, the BSE’s Sensex was down 0.38 per cent to 79,697.12 level.
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