First Capital strengthens Market Dominance in 3Q of FY 2024-25

First Capital Holdings PLC (the Group), a leading financial solutions provider, has reported a Total Comprehensive Income of Rs. 4.53Bn for the nine months ended 31 December 2024, demonstrating its ability to capitalise on market opportunities and drive sustained growth. While last year’s bottom-line result of Rs. 9.35Bn 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. 7.69Bn, compared to Rs. 17.90Bn reported in the corresponding period of the previous year.

First Capital Holdings is the undisputed leader in capital markets, renowned for its unmatched commitment to excellence, innovation, and expertise in financial investment. With over four decades of industry dominance, the company empowers clients to navigate market complexities, transforming opportunities into sustainable growth. Through its forward-thinking approach and unparalleled market insight, First Capital Holdings is not merely shaping the capital markets, it is revolutionising the future.

Further, the company has consistently been recognised with a multitude of prestigious awards, underscoring its dedication to delivering exceptional services and fostering trust within the industry. These accolades not only highlight First Capital’s commitment to excellence but also enhance its credibility, solidifying its position as a trusted leader in the market.

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

The Primary Dealer division reported a Profit after Tax of Rs. 2.45Bn for the nine months ended 31 December 2024 (2023/24 – Profit after Tax of Rs. 10.06Bn). The Results include a trading gain on sale of government securities portfolio amounting to Rs. 2.58Bn and net interest income of Rs. 1.30Bn (2023/24 – Net trading gain on sale of government securities portfolio of Rs. 14.34Bn and net interest income of Rs. 2.64Bn were included).

The Corporate Finance Advisory and Dealing Securities division reported a Profit after Tax of Rs. 1.94Bn for the nine months ended 31 December 2024 (2023/24 – Profit after Tax of Rs. 77Mn). The significant increase is due to the fair valuation gain of Rs. 2.23Bn on the business unit’s equity portfolio.

The Wealth Management division reported a Profit after Tax of Rs. 90Mn for the nine months ended 31 December 2024 (2023/24 – Profit after Tax of Rs. 20Mn). The assets under management of the division stood at Rs. 105.1Bn as of 31 December 2024 (31 March 2024 – Rs. 93.9Bn).

The Stock Brokering division recorded a Profit after Tax of Rs. 39Mn for the nine months ended 31 December 2024 (2023/24 – Profit after Tax of Rs. 27Mn).

Dilshan Wirasekara, Managing Director/CEO of First Capital Holdings PLC, 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 Stock Brokering 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.”

First Capital has garnered several prestigious accolades in 2024, solidifying its leadership in the financial services sector. At the SLIM Brand Excellence Awards 2024, First Capital Holdings was named ‘Brand of the Year’, receiving the highest accolade along with the Service Brand of the Year and two additional awards. Moreover, First Capital Holdings PLC and First Capital Treasuries PLC were ranked 20th and 21st respectively in the Business Today TOP 40 for 2023/24, a testament to the company’s exceptional performance and significant impact on Sri Lanka’s financial landscape during the first half of 2024/25.

Additionally, at the TAGS Awards 2024 organised by CA Sri Lanka, First Capital Holdings, First Capital Treasuries, and First Capital Money Market Fund (unit trust) won a total of five awards, including two Gold. The company was also recognised at the CMA Excellence in Integrated Reporting Awards 2024, further cementing its leadership in the industry. At National ICT Awards 2024 (NBQSA), organised by the British Computer Society (BCS), the Chartered Institute for IT Sri Lanka Section (BCSSL), First Capital Invest WhatsApp Channel – Sri Lanka’s first platform enabling transactions in Unit Trusts via WhatsApp, was honoured with the Gold Award in the In-House Development category. For the third consecutive year, it has been recognised as a Great Place to Work in Sri Lanka, highlighting its ongoing commitment to excellence and dedication to fostering a positive workplace culture, earning the prestigious GPTW certification.

Rajendra Theagarajah – Chairman, First Capital Holdings PLC

Dilshan Wirasekara – Managing Director/CEO, First Capital Holdings PLC

About First Capital Holdings PLC

First Capital Holdings PLC is a listed full-service investment institution in Sri Lanka, operating as a primary dealer, corporate finance advisor, wealth manager and stockbroker. With strong emphasis on upholding stability, fostering a competitive advantage, and providing an exceptional customer experience, together with the support of the Janashakthi Group, First Capital focuses on staying true to its ‘Performance First’ ethos. The company has been recognised as the Most Valuable Consumer Brand in the Investment Banking sector by Brand Finance for two consecutive years. First Capital has been honoured with the highest recognition as the ‘Brand of the Year’ at the SLIM Brand Excellence Awards 2024. With over four decades of expertise in providing capital market solutions, First Capital Holdings PLC is rated [SL] A with Positive outlook by Lanka Rating Agency Ltd.