Mumbai: Capital First reported an increase of 55 per cent in net profit during the quarter ended June 30, 2018, on healthy loan book and interest income.
During the quarter, profit after tax rose to Rs 101.5 crore from Rs 65.4 crore in the corresponding quarter a year ago.Net interest income or income from operations grew 51 per cent to Rs 528 crore from Rs 350.8 crore.
Firms loan book grew by 38 per cent to Rs 29,856 cr aided by SME, MSME and home loans.
At the end of Q1, return on equity was 16 per cent.
In the next couple of years, the company expects return on equity to grow 20 per cent.
Its net interest margins was 8.3 per cent at the end of the quarter.
The Mumbai-based NBFC is in the process of merging with IDFC Bank.
The merger is pending approval from NCLT.
RBI has approved the merger.