Non-banking finance company Capital First today reported a 55 percent increase in net profit at Rs 101.5 crore in the June quarter, helped by higher loan growth and better asset quality.
The company had reported a profit after tax of Rs 65.4 crore in the year-ago quarter.
"We reported 55 percent growth in net profit in Q1 on a year-on-year basis as per the new accounting standard, with stable asset quality," said V Vaidyanathan, chairman, Capital First.
Its gross and net NPA stood at 1.57 percent and 1 percent as on June 30, 2018, respectively, compared with 1.72 percent and 1.04 percent as on June 30, 2017, a release said.
The lender's core income (net interest income and fee income) grew 31 percent to Rs 601.7 crore during the quarter, from Rs 460.3 crore in the same period last year, it added.
"The growth in income was primarily driven by higher net interest income, which grew 51 percent to Rs 528 crore as against Rs 350.8 crore," the release said.
The retail loan book grew 38 percent to Rs 27,220 crore, up from Rs 19,756 crore in the same period last year.
The asset under management (AUM) stood at Rs 29,856 crore as on June 30, 2018, with retail loan portfolio accounting for 91 percent of the overall AUM.
The company's share ended 0.92 percent higher at Rs 544.85 apiece on the BSE today, against 0.95 percent decline in the benchmark.
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