Sunday, Nov 10 2024 | Time 20:04 Hrs(IST)
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Business Economy


Capri Global Capital net up 49 percent at Rs 97 crore in Q2

New Delhi, Oct 30 (UNI) Capri Global Capital Ltd. (CGCL), a non-deposit taking and NBFC, on Wednesday said its Profit After Tax (PAT) has registered a growth of 49 percent y-o-y basis at Rs 97 crore (or Rs 970 million) in the second quarter of current financial year that is 2024-25 as against Rs 652 crore in the same period of fiscal 2023-24.
Net revenue of the company jumped about 24 percent at Rs 408.3 crore (Rs 4,083 million) in the July-September quarter of 2024-25 versus Rs 3,29.6 crore (Rs 3,296 million), the company said in a release.
Commenting on the performance, Founder & Managing Director, Rajesh Sharma said “We continue to see strong growth momentum and further diversify our product offering with the launch of new products Micro Lap and Roof Top Solar loans as Green Financing under our MSME segment. We believe that our significant investments in technology and focus on increasing branch and employee productivity will start yielding results in terms of reduction our cost / income ratio further.”
He further commented that with steady increase in fee income and improvement in yields, the company see further upside to its profitability.
“We will continue to maintain a strong focus on asset quality and strengthen our coverage ratio whilst maintaining healthy capital adequacy. As we move ahead with same vigour, we remain confident to achieve Rs 30bn AuM by FY27 and 15%+ RoE over medium term,” he added.
Strategically, CGCL undertook rapid expansion of branches and employees in last 3 years to support the growth momentum. In line with that, CGCL made significant investments in technology, the benefits of which are expected to accrue going forward. Our branch expansion stabilized this quarter with focus on improvement in branch and employee productivity. CGCL cost/income ratio stood at 64.3%, an improvement of 6.2% from Q4FY24, the company said.
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