First Capital records Rs. 2.09 b profit after tax

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First Capital Holdings PLC recorded a consolidated profit after tax (PAT) of Rs. 2.09 billion for the financial year 2020/21. The results show a significant growth compared to the consolidated PAT of Rs. 1.07 billion recorded the previous year. The total comprehensive income recorded for 2020/21 is Rs. 2.01 billion compared to Rs. 1.04 billion reported the previous year. Meanwhile, the company’s financial position remains strong with total assets of Rs. 36.7 billion and equity in excess of Rs. 4.8 billion.

Commenting on the company’s performance, First Capital Holdings PLC Chairman Nishan Fernando said: “Our progress during the year is a testament to our strength as a trusted institution with a history of over 35 years.”

First Capital’s Primary Dealer Division contributed Rs. 1.83 billion in PAT Tax for the year 2020/21, strengthening its position as the market leader.

The company’s Corporate Finance Division contributed PAT of Rs. 265 million for the financial year. Moreover, the division mobilised over Rs. 10.5 billion in listed and unlisted debentures during the period.

The company’s benchmark unit trust, the First Capital Money Market Fund, has been the fastest growing fund in its category (Open-Ended Money Market Fund) to surpass Rs. 20 billion in assets. under management from Rs. 26.4 billion (31 March 2020) to end at Rs. 45.2 billion as at 31 March 2021.

The company’s Stock Brokering Division recorded a substantial increase in PAT of Rs. 75 million for the year 2020/21.

Commenting on the company’s progress First Capital Holdings PLC Director/Chief Executive Officer (CEO) Dilshan Wirasekara said: “This year we have delivered our best financial performance in history. As we embark on a new strategic plan, designed to steer our future growth, we remain optimistic about our ability to deliver value to all our stakeholders.”  

Further reinforcing the company’s stable financial position, ICRA Ratings upgraded First Capital Holdings PLC to (SL)A with a Stable outlook.

First Capital Holdings PLC declared an interim dividend of Rs. 5 per share amounting to Rs. 506.25 million for the year 2020/21 in March 2021.

First Capital is a member of the Janashakthi Group.

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