First Capital Holdings records Rs.9.4bn PAT

• Records Rs.237mn loss in 3Q24

First Capital Holdings PLC (the group) reported a profit after tax (PAT) of Rs.9.4 billion, marking a significant increase compared to Rs.1.7 billion recorded in the corresponding period of the previous year. 
Despite a loss of Rs.237 million in the third quarter of 2023/24, primarily attributed to the withholding tax on inter-company dividends totalling Rs.825 million, the group’s overall performance demonstrates resilience and strategic growth. 

The dividend payout is the highest in the company’s recorded history for its shareholders.
The primary dealer division emerged as a key contributor to the group’s success, reporting a PAT of Rs.10.1 billion for the nine months ended on December 31, 2023, compared to Rs.1.9 billion in the previous year. This remarkable performance was driven by substantial trading gains on the government securities portfolio, amounting to Rs.14.3 billion and a net interest income of Rs.2.6 billion.

Additionally, the corporate dealing securities division recorded a PAT of Rs.77 million for the same period, marking a significant turnaround from the previous year’s loss after tax of Rs.364 million. The wealth management division reported a PAT of Rs.20 million, with assets under management reaching Rs.75 billion as of December 31, 2023, demonstrating robust growth. 
Furthermore, the stockbroking division posted a PAT of Rs.27 million for the nine months ended on December 31, 2023. 

Commenting on the financial results, First Capital MD/CEO Dilshan Wirasekara stated, “We are pleased with the strong financial performance achieved during the nine months ended on December 31, 2023. Our primary dealer division’s outstanding results reflect our ability to capitalise on market opportunities, while our diverse portfolio of services continues to drive growth across all segments. We remain committed to delivering value to our stakeholders and maintaining our position as a leading player in the investment sector.”