Northern Arc Capital's Q2 profit increases by 24% to reach Rs 98 crore.
Northern Arc Capital, an NBFC that recently went public, reported a 24% increase in consolidated net profit to Rs 96 crore for Q2 2024, along with a rise in total income and net interest income.
NBFC Northern Arc Capital, which went public last month, reported a 24% rise in consolidated net profit to Rs 96 crore for the second quarter ending September 2024, up from Rs 79 crore in the same quarter last year.
Total income for the quarter rose to Rs 585 crore, compared to Rs 437 crore in the previous year, as stated in a regulatory filing by Northern Arc Capital Ltd.
Net interest income (NII) increased to Rs 288 crore, up from Rs 196 crore a year earlier.
Regarding asset quality, the gross non-performing assets (NPAs) ratio was 0.60%, while the net NPA ratio was 0.18% as of September 30, 2024. During the quarter, the company raised Rs 500 crore in fresh equity capital through its initial public offering.
The Capital Adequacy Ratio stood at 24.9% at the end of the second quarter, and Assets Under Management grew by 22% to Rs 12,309 crore as of September 30, 2024.
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