Centrum Capital Q4 net zooms 15-fold to Rs 30.45 crore

Net profit of Centrum Capital rose 15 times to Rs 30.45 crore in the fourth quarter ended March 31, mainly on the back of the financial services firm starting lending operations in housing and small business segment.

The company had registered a net profit of Rs 2.51 crore in the same period a year ago.

A tax refund of Rs 6 crore also boosted the company's profit.

For the Centrum group, profit for the year ended March 31 rose 46 per cent to Rs 45.6 crore. Revenue shot up 74.58 per cent to Rs 6995.01 crore.

The figures are not comparable because the company has changed its financial year ending June 30 to March 31.

"FY 2016-17 has been a year of significant achievements for the group, driven by the launch of new businesses, strengthening of existing businesses and hiring of senior industry leaders," Jaspal Bindra, Executive Chairman of Centrum Group, said in a statement.

"We have diversified from our traditional model of a fee-based business to a fee-cum-lending business with the introduction of housing and SME finance," he said.

"The annual results show a strong growth in our business verticals and excellent performance by the forex business."

The company has its core operations in the areas of investment banking and debt syndication.

Talking about the year ahead, he said, "Our focus will be on growth and increasing presence in the digital space by offering digital wealth management services."

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)