Muthoot Capital net dips 10% at Rs 5.41 cr

Records a total income of Rs 45.20 cr which is 30% higher compared to Rs 34.85 cr for quarter ended June 2013

Muthoot Capital Services Limited (MCSL), listed entity of the Muthoot Pappachan Group has earned a net profit of Rs 5.41 crore for the quarter ended June, 2014, recording a decline of 10% over the corresponding period last fiscal year.

The company recorded a total income of Rs 45.20 crore which is 30% higher compared to Rs 34.85 crore for the quarter ended June 2013.

Financial expenses increased from Rs 12.37 crore to Rs 19.21 crore during the corresponding period, recording an increase of 55%. Non-financial expenses increased from Rs 13.39 crore to Rs 17.84 crore, which was an increase of 33%.

The company disbursed 29,902 loans amounting to Rs 122.56 crore during the quarter compared to 28,952 loans amounting to 120.95 crore.

The total loan portfolio of the company increased to Rs 692 crore compared to Rs. 509 crore, recording an increase of 36%. Compared to the level of Rs 678 crore as on 31.03.2014, the increase has been 2%.

The company has 2,58,391 borrower customers compared to 1,80,159 customers as on 30.06.2013 (increase of 43%) and 2,43,595 as on 31.03.2014 (increase of 6%).