Quarterly results of companies

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Kerala Financial Corporation, a finance company owned by the Kerala state, said on Wednesday that it has recorded a nearly fourfold jump in its net profit at Rs 50.19 crore in the financial year ended March 31, 2023. The company has made a net profit of Rs. 13 crore in the previous financial year. Total income increased to Rs 694.38 crore as against Rs 518.17 crore last year, Kerala Finance said in a statement. Interest income increased by 38 per cent to Rs. 543.64 crore. Loan portfolio increased by 37% to Rs. 6,529.40 crore as against Rs. 4,750.71 crore in the previous year. With the state government making a capital injection of Rs 200 crore from 31st March 2023, the capital adequacy ratio in Kerala financing has improved to 25.58 per cent from 22.41 per cent last year. This is against the minimum rate of 15 per cent set for non-bank financial companies by the Reserve Bank of India.