First Capital Holdings’ financial performance for FY 2023/24
View(s):First Capital Holdings PLC, member of the Janashakthi Group, has reported a total comprehensive income of Rs. 10.1 billion, a significant increase from Rs. 2.7 billion in the previous year, underscoring the group’s strategic positioning and robust operational execution across its business divisions.The Primary Dealer division was the major contributor to the group’s impressive financial results, reporting a Profit after Tax (PAT) of Rs. 11.1 billion, a sharp rise from Rs. 2.9 billion in the previous year. This performance was primarily driven by substantial trading gains on the government securities portfolio amounting to Rs. 15.8 billion and net interest income of Rs. 3.2 billion, compared to trading gains of Rs. 2.4 million and net interest income of Rs. 3.6 billion in the prior year, the company said in a media release.
The Corporate Dealing Securities division also exhibited strong performance, reporting a PAT of Rs. 215 million, a significant increase from Rs. 40 million in the previous year.
The Wealth Management division turned around its performance, reporting a PAT of Rs. 6.3 million, compared to a Loss after Tax of Rs. 0.4 million in the previous year.
Dilshan Wirasekara, MD/CEO of First Capital, stated, “We’re thrilled to share such fantastic financial results this year, building on the success of the previous year. Our strategic efforts to tap into market opportunities have really paid off, and this is reflected in the strong growth across our divisions. The standout performance of our Primary Dealer division highlights our ability to navigate and make the most of favourable market conditions.”
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