Future Capital Q4 FY 11 stand-alone net up 175% at Rs47.55 crore
However, due to one-time tax provision arising out of the merger of the company with its subsidiary Future Capital Financial Services, the net profit was down 26% to Rs44.15 crore on a consolidated basis.
Kishore Bayani-led Future Capital Holdings today posted 175% jump in net profit at Rs47.55 crore for the quarter ended March 31 on a stand-alone basis. However, due to one-time tax provision arising out of the merger of the company with its subsidiary Future Capital Financial Services, the net profit was down 26% to Rs44.15 crore on a consolidated basis. In the January-March 2011 period, the non-bank lender's core net interest income grew 64% to Rs128.8 crore on a consolidated basis while the fee income was up 83% at Rs45.30 crore. On a consolidated basis, the loan book increased by 90% over the year-before to Rs2,855 crore with a strong increase from the retail side and the gross non-performing assets ratio stood at 0.25%. Future Capital shares closed 1.18% up at Rs141.70 on the Bombay Stock Exchange today.