Capri Global net jumps manifold to Rs 49 cr

Non-banking finance company Capri Global Capital Friday reported a consolidated net profit of Rs 49 crore for the quarter to March as against Rs 10 crore in the year-ago period.

Total income rose 79 percent to Rs 177.60 crore and asset under management rose to Rs 4,103 crore from Rs 2,839 crore. On standalone basis, AUM rose 26.71 percent at Rs 3,310.57 crore.

Gross non-performing assets remained stable at 1.69 percent and net non-performing improved to 0.67 percent from 1.44 percent.

The cost of fund increased 75 basis points to 10 percent in FY19, post- IL&FS crisis.

"We expect cost of funds to come down this year," managing director Rajesh Sharma said, adding funding requirement for FY20 is around Rs 1,500 crore.

While most of the funds will be secured from banks, it will also be looking to raise Rs 750 crore through securitisation in FY20.

Its MSME lending book increased to Rs 1,970.88 crore during the year from Rs 1,558.74 crore last year.

The company operates in two major verticals - MSME loans and housing finance through its 84 offices spread across eight states employing over 1,850.

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