Capital First’s January-March Profit Beats Estimates

Capital First Ltd.’s shares rose over 3 percent after it registered a 49.1 percent year-on-year growth in net profit for the January-March quarter, beating analyst estimates.

Net profit for the non-banking financial company rose to Rs 70.8 crore during the reported period, compared with Rs 47.5 crore in the same quarter last year, according to the company’s exchange filing. Analysts tracked by Bloomberg had pegged the bottomline at Rs 56 crore.

Total revenue from operations also jumped 34.2 percent to Rs 749 crore, compared with Rs 558.3 crore in the corresponding quarter.

Provisions for bad debt remained stable at Rs 126.3 crore compared to Rs 124 crore in the last quarter, the filing added.

Shares of the company’s stock jumped as much as 3.1 percent to Rs 814, but failed to sustain gains and closed the day 0.3 percent lower at Rs 788.