First Capital strengthens market dominance in 3Q of FY 2024-25

First Capital Holdings PLC has reported a total comprehensive income of Rs.4.53 billion for the nine months ended December 31, 2024, demonstrating its ability to capitalise on market opportunities and drive sustained growth. 

While last year’s bottom-line result of Rs.9.35 billion was bolstered by extraordinary gains from falling interest rates and post-domestic debt optimisation, the group continues to showcase its financial strength and strategic execution.
The group’s net income before operating expenses for the nine months of 2024/25 was Rs.7.69 billion, compared to Rs.17.90 billion reported in the corresponding period of the previous year. 

Key financial highlights for the nine months ended December 31, 2024/25:

The primary dealer division reported a profit after tax (PAT) of Rs.2.45 billion for the nine months ended December 31, 2024 (2023/24 – PAT of Rs.10.06 billion). The results include a trading gain on sale of government securities portfolio, amounting to Rs.2.58 billion and a net interest income (NII) of Rs.1.30 billion (2023/24 – Net trading gain on sale of government securities portfolio of Rs.14.34 billion and NII of Rs.2.64 billion were included).

The corporate finance advisory and dealing securities division reported a PAT of Rs.1.94 billion for the nine months ended December 31, 2024 (2023/24 – PAT of Rs.77 million). The significant increase is due to the fair valuation gain of Rs.2.23 billion on the business unit’s equity portfolio.

The wealth management division reported a PAT of Rs.90 million for the nine months ended December 31, 2024 (2023/24 – PAT of Rs.20 million). The assets under management of the division stood at Rs.105.1 billion as of December 31, 2024 (March 31, 2024 – Rs.93.9 billion).

The stockbroking division recorded a PAT of Rs.39 million for the nine months ended December 31, 2024 (2023/24 – PAT of Rs.27 million).

First Capital Holdings Managing Director/CEO Dilshan Wirasekara commented, “Our performance amidst shifting market conditions reflects our strategic foresight and execution excellence. While last year’s gains were exceptional, we continue to drive sustainable growth and capitalise on emerging opportunities across our diverse business divisions. Our corporate finance advisory and dealing securities, wealth management and stockbroking divisions have all shown resilience and growth, demonstrating our ability to unlock new revenue streams and deliver consistent returns. We remain committed to prudent risk management and innovative solutions, ensuring long-term value for our stakeholders and continued success in the evolving financial landscape.”