First Capital Treasuries reports Rs. 3 b PAT for FY2024/25

Thursday, 29 May 2025 05:08 - - {{hitsCtrl.values.hits}}

Continues momentum with strengthened balance sheet and upgraded credit rating

First Capital Treasuries PLC, a subsidiary of First Capital Holdings PLC and a leading nonbank primary dealer in Sri Lanka, announced a Profit After Tax (PAT) of Rs. 3 billion for the financial year ended 31 March 2025, demonstrating its financial strength and resilience amid evolving market dynamics. This reflects a decline from the extraordinary PAT of Rs. 11.1 billion recorded in the previous year, in which results were significantly boosted by exceptional gains arising from the sharp decline in interest rates post domestic debt optimisation.

For the year under review, the Company posted a Net Income before Operating Expenses of Rs. 5.4 billion, compared to Rs. 18.4 billion in the previous year. The variance was due to the extraordinary market conditions that led to outsized gains in FY 2023/24 as stated previously.

Despite this normalisation, First Capital Treasuries PLC continued to grow its Government Securities portfolio, reaching Rs. 81.4 billion as of 31 March 2025, up from Rs. 61.2 billion at the beginning of the financial year. Total net assets also rose to Rs. 9.1 billion, an increase from Rs. 7.7 billion at the close of the previous year.

In recognition of its robust financial profile and the disciplined approach to risk reward decisions, Lanka Credit Rating Agency Limited (LRA) upgraded First Capital Treasuries’ credit rating from “A” to “A+” in March 2025, with the outlook revised from positive to stable.

“Despite the absence of extraordinary circumstances seen the previous year, we remained focused on fundamentals — liquidity, macroeconomic outlook, and investor confidence,” said First Capital Treasuries PLC Director/Chief Executive Officer Sachith Perera. “The increase in our asset base is a testament to our disciplined risk management approach and long-term outlook in these fundamentals.”

First Capital Treasuries PLC Chairperson Manjula Mathews added, “The Company has remained a cornerstone of Sri Lanka’s capital market for over two decades. Our commitment to transparency, innovation, and inclusive access to government securities has allowed us to serve both institutional and retail investors with trust and consistency. The company’s continued growth reflects our ability to evolve with the market while staying true to our core values.”

As a Primary Dealer licensed by the Central Bank of Sri Lanka, First Capital Treasuries PLC plays a crucial role in the government securities market, enabling efficient price discovery and deepening liquidity in the secondary market. The company remains committed to delivering innovative and accessible investment solutions that strengthen Sri Lanka’s financial ecosystem.

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