Capri Global Capital Q3 profit down at Rs 49.2cr

Non-banking financial company Capri Global Capital on Wednesday said its net profit declined marginally to Rs 49.2 crore in the quarter ended in December 2020 compared to Rs 49.6 crore in the same quarter a year ago.

Total income increased by 5 percent to Rs 118.60 crore in the October-December quarter as against Rs 112.90 crore in the third quarter of 2019-20, Capri Global Capital said in a release.

Cost of funds improved to 9.3 percent during the quarter as against 10.6 percent. The asset quality remained healthy with gross non-performing assets (GNPA) at 2.08 percent and NNPA at 0 percent, it added.

Total disbursements stood at Rs 379.2 crore against Rs 296.7 crore, the company said.

MSME portfolio continues to dominate with nearly 55 percent of the AUM at Rs 2,236.9 crore while home loan business showed a promising growth of 16 percent year-on-year with an AUM of Rs 1,003.4 crore.

Rajesh Sharma, Managing Director, Capri Global Capital said: ''The market is under consolidation and the pandemic has given us the opportunity to accelerate our growth by looking for other strategic investment avenues. ''We are working towards the adoption of technological initiatives and strengthening manpower to help the company be ready for future growth, consciously evaluating risks with strong solvency and focusing to grow our presence in Tier-III and Tier-IV cities of India.''