Capri Global sees MSME, affordable housing driven growth in Q4 FY22
New Delhi, May 24 (KNN) The non-deposit taking NBFC, Capri Global Capital Ltd. (CGCL) saw a growth of 54 per cent which was balanced driven by MSME, Affordable Housing, and Construction Finance segments, as per the audited financial results for the quarter and year ended March 31, 2022.
The Board of Directors of Capri Global Capital Ltd. (CGCL) released the report last week which stated that quarterly disbursements crossed the Rs 10 billion mark for the first time and stood at Rs 1,040.60 crore as compared to Rs 928.70 crore in Q4FY21, up by 12 per cent YoY.
One-off elevated credit cost driven by write-offs as well as proactive provisioning caused the sequential dent in quarterly profit.
However, the core earnings performance was robust with an operating profit growth of 84 per cent YoY and 7 per cent QoQ. This cushioned the impact of higher credit costs and is also indicative of the earnings strength of CGCL.
Net interest margin for Q4FY22, excluding spreads on co-lending AUM, was 9.7 per cent.
Adjusted for one-off spreads in Q3 FY22, the NIMs declined 43bps QoQ. The Company believes NIM is bottoming out and going ahead, a reversal to upward trajectory shall happen.
The FY22 consolidated RoE was 11.3 per cent while RoA closed at 3.3 per cent. The company maintains its +15 per cent RoE guidance for medium term.
Commenting on the results, Rajesh Sharma, Founder & MD, CGCL said, “At CGCL, we are happy to have sustained in a very robust manner the post-Covid19 growth momentum, which restarted from Q4 FY21. As we continue on this growth journey, we shall continue to drive penetration of existing products even as we diversify our growth story.”
We are geared up to shortly launch the Gold Loan product. In FY23, we shall also look to bolster our growth capability aided by our revamped tech suite. We are confident of delivering amongst the best balance sheet growth rates in our peer group, he added. (KNN Bureau)