First Capital Holdings PLC (the Group) recorded a Profit after Tax of Rs. 1,093Mn for the nine months ended 31st December 2019 compared to a Loss after Tax of Rs. 333Mn in the corresponding period of the previous year.

The Group’s Total Comprehensive Income for the period under review was Rs. 1,069Mn (2018/19 – Total Comprehensive Loss of Rs. 333Mn).

First Capital Treasuries PLC, the Group’s Primary Dealer, reported a Profit after Tax of Rs. 934Mn for the nine months ended 31st December 2019 (2018/19 – Loss after Tax of Rs. 273Mn) mainly attributable to gains on sale of government securities.

First Capital Treasuries PLC successfully raised Rs. 750Mn through a listed debenture issue in January 2020 with the objective of settling maturity of listed debentures amounting to Rs. 500Mn and enhancing the company’s long-term funding base (Tier II Capital).

The Corporate Finance division of First Capital Limited mobilised Rs. 34Bn for its clients through structuring and placement of Corporate Debt Securities and generated a fee income of Rs. 153Mn for the nine months ended 31st December 2019 (2018/19 – Rs. 48Mn).

First Capital Asset Management Limited, the Wealth Management division of the Group, showed a significant increase in its funds under management during the nine months ended 31st December 2019 to Rs. 26Bn (31st March 2019 – Rs. 5.9Bn).

First Capital Equities (Private) Limited, the Stock Broking division, recorded revenue of Rs. 54Mn for nine months ended 31st December 2019 (2018/19 – Rs. 43Mn).

"All business units have shown significant improvement over the previous year," said Director / Group CEO, Dilshan Wirasekara.

The credit ratings of First Capital Holdings PLC and First Capital Treasuries PLC were reaffirmed by ICRA Lanka Limited at “A-” in January 2020.