17 Aug 2023 - {{hitsCtrl.values.hits}}
First Capital Holdings PLC reported an outstanding financial performance for the first quarter ended on June 30, 2023, as the group’s post-tax profit surged to Rs.2.81 billion, marking a remarkable leap from Rs.96 million recorded in the same period last year.
Among the key divisions, the primary dealer segment demonstrated an exceptional growth trajectory, reporting a PAT of Rs.2.73 billion for 1Q23, compared to the previous year’s figure of Rs.409 million.
This achievement can be attributed to a net interest income of Rs.1.1 billion and a substantial trading gain of Rs.2.1 billion from the sale of the government securities portfolio. In the prior year, the division reported a net interest income of Rs.185 million and a trading gain of Rs.242 million.
The corporate dealing securities division also showcased a remarkable turnaround, reporting a PAT of Rs.77 million for the quarter under review, a significant improvement from the previous year’s loss after tax of Rs.310 million.
The wealth management division reported a loss after tax of Rs.0.8 million for 1Q23, an improvement from the previous year’s loss after tax of Rs.0.9 million. The division’s assets under management demonstrated growth, standing at Rs.48.6 billion as of June 30, 2023, compared to Rs.40.5 billion as of March 31, 2023. The stockbroking division maintained a strong stance, reporting a PAT of Rs.2 million for 1Q23 though lower than the previous year’s Rs.9 million.
“Our growth across multiple divisions reflects our commitment to excellence, adaptability and strategic foresight. We remain dedicated to delivering value to our clients and shareholders while maintaining a strong position in the market, “First Capital Holdings Managing Director/CEO Dilshan Wirasekara said.
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