Muthoot Capital posts Rs 20.6 cr profit for Q1

Muthoot Capital today reported over three-fold jump in its net profit at Rs 20.6 crore for the first quarter ending June compared to the year-ago period.

The non-banking finance company of the Muthoot Pappachan Group had registered a net profit of Rs 6.1 crore in the corresponding April-June period of 2017-18.

The total income increased to Rs 124.2 crore during the quarter ending June 2018, from Rs 79.5 crore during the same period last year, registering a growth of 56.2 per cent, the company said in a statement.

Commenting on the results, Thomas George Muthoot, Managing Director, Muthoot Capital Services Limited said, "MCSL's results reflect the success of the group's strategic move towards customer-centric digital transformation to provide financial services at the doorstep of the common man."