{"id":22528,"date":"2022-08-10T14:00:33","date_gmt":"2022-08-10T14:00:33","guid":{"rendered":"http:\/\/faceinews.com\/?p=22528"},"modified":"2022-08-10T14:00:33","modified_gmt":"2022-08-10T14:00:33","slug":"consolidated-key-performance-highlights-for-q1-fy23","status":"publish","type":"post","link":"https:\/\/www.faceinews.com\/?p=22528","title":{"rendered":"Consolidated Key Performance Highlights for Q1 FY23"},"content":{"rendered":"

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Consolidated Key Performance Highlights for Q1 FY23<\/p>\n

Mumbai, August 9th, 2022: The Board of Directors of Capri Global Capital Ltd. (CGCL), a non-deposit taking and systemically important NBFC (NBFC-ND-SI) on Tuesday, August 9th, 2022 announced the reviewed financial results for the quarter ended June 30, 2022.<\/p>\n

Earnings<\/p>\n

CGCL reported a Consolidated Profit after Tax of Rs461mn, flat on a YoY basis but up by 10% over Q4 FY22 PAT Rs418mn. Despite a sequentially weaker core income, a softer opex expansion and a halving of credit cost QoQ led to an improved PAT over Q4 FY22. Proactive write-off continued in Q1FY23 and is likely to recur in the remainder FY23.<\/p>\n

Net interest margin for Q1 FY23, excluding spreads on co-lending AUM, was 7.8%, lower than 9% noted in Q4 FY22 and 8.3% in Q1 FY22.<\/p>\n

The Q1 FY23 Consolidated RoE was 9.5% while RoA was 2.5%.<\/p>\n

Balance Sheet<\/p>\n

Quarterly disbursals including Indirect Lending were Rs10.9bn, up 91% YoY but lower 27% QoQ. MSME and Housing contributed 17% and 18% respectively to the Q1 FY23 disbursals. The rest was contributed by Construction Finance and Indirect Lending verticals respectively. Consolidated AUM including co-lending AUM increased 41% YoY and 5% QoQ. The relatively lower disbursal contribution from MSME in the disbursals lowered its share in AUM marginally to ~49% from ~50% in Q4 FY22. Share of Housing in consolidated AUM inched up 70bps QoQ to 27%. The co-lending arrangement with State Bank of India and Union Bank of India showed steady pick-up with the AUM increasing 72% QoQ to ~Rs2bn in of Q1 FY23.<\/p>\n

The car loan distribution business continued to surpass its previous volume achievements, originating ~Rs11bn in new car loans and contributing Rs183mn net fees to the core income.<\/p>\n

Liability Management<\/p>\n

Outstanding borrowings increased 49% YoY to touch Rs53,628mn. Borrowings were long term and well-diversified across 19 lending institutions. The average cost of borrowings was 8.03%, lower 13bps QoQ and lower 34bps YoY. CGCL is well-funded and maintains a well-matched asset liability profile.<\/p>\n

Asset Quality<\/p>\n

Gross Stage 3 ratio was 2.7%, moving up by 32bps QoQ and but lower 73bps YoY. The Gross Stage 3 ratio has increased for the first time after declining continuously for three straight quarters. The PCR including aggregate ECL provisions was 96.2%.<\/p>\n

Strong Capital Adequacy<\/p>\n

Both CGCL and its housing finance subsidiary CGHFL remain well capitalized with a capital adequacy ratio at 29.9% and 39.5% respectively as of Q1 FY23.<\/p>\n

Founder & Managing Director Mr. Rajesh Sharma Commented:<\/p>\n

\u201cAlthough the Q1 FY23 profit is better sequentially, the overall earnings appear to present a mixed picture of the fundamentals. We had picked up a sustained momentum post-Covid19 lockdowns and we believe the Q1 FY23 performance is a small bump in this journey. There were also notable positives – the distribution continued to grow rapidly clocking its best ever volumes and fee contribution, highlighting clearly our ability to launch new products and scale them up quickly.<\/p>\n

We remain focused on our goals. Our motto remains growing sustainably and profitably and we remain committed to overcoming the bump we have experienced in Q1FY23.\u201d<\/p>\n

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Consolidated Key Performance Highlights for Q1 FY23 Mumbai, August 9th, 2022: The Board of Directors of Capri Global Capital Ltd. (CGCL), a non-deposit taking and systemically important NBFC (NBFC-ND-SI) on Tuesday, August 9th, 2022 announced the reviewed financial results for the quarter ended June 30, 2022. Earnings CGCL reported a Consolidated Profit after Tax of […]<\/p>\n","protected":false},"author":2,"featured_media":22529,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[32,10,30,11,27,34,28],"tags":[],"class_list":["post-22528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-corporate","category-finance","category-new-hopes","category-news","category-technology","category-value-added-services"],"_links":{"self":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/22528","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22528"}],"version-history":[{"count":1,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/22528\/revisions"}],"predecessor-version":[{"id":22531,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/posts\/22528\/revisions\/22531"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=\/wp\/v2\/media\/22529"}],"wp:attachment":[{"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22528"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22528"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.faceinews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22528"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}