Business Standard

Muthoot Capital net profit doubles

Related News

Limited has reported a two-fold increase in its net profit, to Rs 4.93 crore as compared with Rs 2.35 crore in the corresponding period last year.

Revenues were up 81 per cent to Rs 22.17 crore from Rs 12.23 crore last year. During the quarter, total loan portfolio increased to Rs 329.23 crore from Rs 199.33 crore, up 65 per cent.

Thomas George Muthoot, managing director, said despite challenging business scenario — high interest rate regime, rise in fuel prices, and reduced offtake of vehicles — the company recorded robust growth due to cost efficiencies and efficient use of technology.

The company has also approved the dividend of Rs 3.5 per share (35 per cent) recommended earlier by the company’s board of directors.

Read more on:   
|
|

Muthoot Capital net profit doubles

Muthoot Capital Services Limited has reported a two-fold increase in its net profit, to Rs 4.93 crore as compared with Rs 2.35 crore in the corresponding period last year.

Limited has reported a two-fold increase in its net profit, to Rs 4.93 crore as compared with Rs 2.35 crore in the corresponding period last year.

Revenues were up 81 per cent to Rs 22.17 crore from Rs 12.23 crore last year. During the quarter, total loan portfolio increased to Rs 329.23 crore from Rs 199.33 crore, up 65 per cent.

Thomas George Muthoot, managing director, said despite challenging business scenario — high interest rate regime, rise in fuel prices, and reduced offtake of vehicles — the company recorded robust growth due to cost efficiencies and efficient use of technology.

The company has also approved the dividend of Rs 3.5 per share (35 per cent) recommended earlier by the company’s board of directors.

image

Read More

Vijaya Bank cuts interest rates on MSME loans up to 1%

Vijaya Bank has slashed interest rates on MSME (Micro, Small and Medium Enterprises) loans by up to one per cent across the board, effective from ...

Recommended for you

Quick Links

More news from Finance Rss icon

Jaitley says it again: It's time for rate cut

Reserve Bank of India is scheduled to announce its monetary policy on June 2

ATM use shows clear decline

While numbers have risen, average daily transaction at each is falling, for various reasons, raising viability issues for brown-label ones

Swap transactions allowed for rupee-denominated foreign loans: RBI

The continuation of the swap shall be subject to the existence of the underlying ECB at all times

Back to Top