First Capital Holdings tops Rs 1 billion revenue

The consolidated Group revenue of First Capital Holdings PLC for the first half topped a billion rupees to reach Rs.1.2 billion and recorded a profit after tax of Rs.38 million. Group revenue for the quarter increased 25 per cent to reach Rs.668 million compared to Rs.535 million in the first quarter. The Group profit for the first quarter was boosted by the capital gain of Rs.43 million from the disposal of the stake in First Capital Equities for a consideration of Rs.60 million.

In September 2007, V Capital PLC changed its name to First Capital Holdings PLC and further increased its stake in First Capital Ltd. to 79 percent. During the second quarter, the company successfully raised Rs.187.5 million by way of a rights issue of five shares for every four shares held at a price of Rs.10 each.