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New Delhi: Capital First on Wednesday reported a 45.7 per cent increase in net profit at Rs 45.18 crore for the fiscal first quarter that ended on June 30.
The company's net profit stood at Rs 31 crore for the corresponding quarter of 2015-16.
The total income April-June quarter rose to Rs 601.43 crore as against Rs 388.45 crore a year ago.
During the quarter, the company said it has changed its estimates with relation to provisioning for retail mortgage and housing loans.
"Consequent to the change in such estimates, provision and write off for the quarter ended June 2016 is higher by Rs 11.64 crore," it said in a filing to the BSE.
It has also accounted for provision on standard assets as per Reserve Bank of India guidelines, requiring an increased provision on standard assets, the company said.
As a result of which provision for standard assets for the quarter ended June 30, 2016 is higher by Rs 6.64 crore, it added.
Capital First, a non-banking financial company, is engaged mainly in financing.
Shares in Capital First, on Wednesday, ended 5.74 per cent lower at Rs 686.65 apiece on the BSE, whose benchmark Sensex index finished down 1.02 per cent.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
The company's net profit stood at Rs 31 crore for the corresponding quarter of 2015-16.
The total income April-June quarter rose to Rs 601.43 crore as against Rs 388.45 crore a year ago.
During the quarter, the company said it has changed its estimates with relation to provisioning for retail mortgage and housing loans.
"Consequent to the change in such estimates, provision and write off for the quarter ended June 2016 is higher by Rs 11.64 crore," it said in a filing to the BSE.
It has also accounted for provision on standard assets as per Reserve Bank of India guidelines, requiring an increased provision on standard assets, the company said.
As a result of which provision for standard assets for the quarter ended June 30, 2016 is higher by Rs 6.64 crore, it added.
Capital First, a non-banking financial company, is engaged mainly in financing.
Shares in Capital First, on Wednesday, ended 5.74 per cent lower at Rs 686.65 apiece on the BSE, whose benchmark Sensex index finished down 1.02 per cent.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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