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Tuesday, May 7, 2013

Muthoot Capital FY net up 40%

Muthoot Capital Services Ltd has posted a 40 per cent growth in its net profit in FY13 touching Rs 21.76 crore against Rs 15.51 crore in the previous year.

The total revenue reached Rs 107.22 crore compared with Rs 67.35 crore in the previous year, registering a growth of 59 per cent. The total loan disbursements also jumped 49 per cent to Rs 431.16 crore (Rs 288.45 crore).

The board has recommended a dividend of Rs 4 for a share (40 per cent).

The profit for the quarter ended March 31 recorded a growth of three per cent to Rs 6.58 crore against Rs 6.39 crore in the corresponding quarter last year. The total revenues in the quarter increased 38 per cent to Rs 32.61 crore, compared to Rs 23.69 crore in the corresponding quarter. Speaking to reporters here on Monday, Thomas George Muthoot, Managing Director, said the company plans to start tractor financing and used car financing during the year. “We are also planning to extend our reach to Rajasthan, Punjab and Madhya Pradesh during the year,” he said.

While the company’s monthly average loan disbursal during 2012-13 stood at Rs 36 crore, the disbursal reached Rs 60 crore in March, R. Manomohanan, CEO, said.

Source: thehindubusinessline


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