A K Capital Services total income up by 101% to Rs 26.38cr

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A K Capital Services total income up by 101% to Rs 26.38cr

A K Capital Services total income up by 101% to Rs 26.38 crores & PAT up 138% to Rs 9.10 crores

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A.K. Capital Services Ltd, a leading merchant banker & a dominant player in the corporate debt market, registered a 138% rise in its profit after tax to Rs. 9.10 crores in the quarter ended December 2007 as against Rs. 3.83 crores in the corresponding quarter last year. The Q3 results for'08 were announced following the company's board meeting held in Mumbai.

The company posted a strong top-line growth of 101 % to Rs. 26.38 crores as against Rs 13.15 crores in the corresponding quarter last year. The strong growth is due to increased fee income from the corporate debt market & robust investment banking income. For the 9 months ended December 2007, the company participated in approx Rs 10,000 crores (approx US$ 2.50 billion) worth of corporate debt, while cumulatively the company has participated in approx Rs 57,000 crores (US$ 14.25 billion) worth of corporate debt in the last 3 years.

Talking about the outstanding performance, Mr A.K. Mittal, CEO, promoter of A.K. Capital Services Ltd said" AK Capital, is a leading merchant banker in the corporate debt market space for almost a decade now, and is well positioned to capitalize on the government efforts to develop an efficient & vibrant corporate debt market in India. The annual corporate debt market volumes in India has grown by an average CAGR of approx 25 % in the last 10 years, and with an increased borrowing requirements from Infrastructure & manufacturing sectors, we expect the debt market size to increase at a rapid pace from here onwards. This augurs well to the future business growth of AK Capital, as it is already a dominant player in the debt market.

In the current financial year 2007-2008 till date, AK Capital acted as lead arranger to landmark transactions, few of them are as under:

• Rs 3.0 billion, debt issue of Welspun Gujarat Stahl Rohren Ltd, as Sole Arranger
• Rs 3.2 billion, upper tier II debt issue of UCO Bank Ltd, as Sole Arranger
• Lead Manager for the demutualization process of the Delhi Stock Exchange
• Rs 5.0 billion, debt issue of Punjab Infrastructure Development Board
• Debt issues aggregating to Rs 2.0 billion of Shriram Transport Fin Co Ltd   

ANNOUNCEMENTS

AK Capital's focus will remain on increasing its balance sheet size to over Rs 500 crores in the next two years and diversify in other activities in the financial services industry like NBFC, Debt Public Issue management, etc.

Sourced From: Adfactors Public Relations Pvt Ltd