Northern Arc Capital's Steady Profit and Growth in Q3
Northern Arc Capital, a Non-Banking Financial Company (NBFC), reported a nearly flat net profit of Rs 76 crore for Q3 2024 compared to Rs 75 crore in Q3 2023. The firm's total income increased to Rs 581 crore. Net interest income rose by 10%, with asset quality remaining stable.
- Country:
- India
Northern Arc Capital, a prominent Non-Banking Financial Company (NBFC), announced on Friday that its consolidated net profit for the third quarter of 2024 remained steady at Rs 76 crore, just a marginal increase from Rs 75 crore the previous year.
The company's total income, however, showed robust growth, rising to Rs 581 crore from Rs 497 crore in the same quarter last year, according to a regulatory filing by Northern Arc Capital Ltd. Additionally, net interest income (NII) saw a 10% increase, reaching Rs 267 crore during this period.
On the asset quality front, the company maintained a commendable stability, with gross non-performing assets (NPAs) ratio at 0.9% and net NPA at 0.37% as of December 31, 2024. Their capital adequacy ratio was a strong 26.1% at the end of the quarter.
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