Muthoot Capital Q1 net rises 21%

Muthoot Capital Services Ltd has registered a 21.30-per cent growth in net profit at Rs 5.98 crore in the first quarter of the current financial year, compared with Rs 4.93 crore in the corresponding period last year.

Total income increased 56.83 per cent to Rs 34.77 crore (Rs 22.17 crore). Financial expenses increased to Rs 12.36 crore (Rs 7.19 crore), recording a rise of 71.91 per cent.

Non-financial expenses increased to Rs 13.32 crore (Rs 7.42 crore), a rise of 79.51 per cent. Profit before tax grew 20.24 per cent to Rs 9.09 crore (Rs 7.56 crore).

Total loan portfolio increased to Rs 508.68 crore (Rs 325.05 crore), recording a growth of 56.49 per cent. .

Thomas George Muthoot, Managing Director, Muthoot Capital Services, said loan disbursal has been consistent over the years and stands at Rs 508.68 crore. According to R. Manomohanan, CEO, the company is expanding its business by adding new products and manpower. The annual general meeting also approved a dividend of Rs 4 per equity share (40 per cent).

sajeevkumar.v@thehindu.co.in

Source: thehindubusinessline