Muthoot Capital Q3 net up 14% at Rs 6 cr

The total income increased 23% to Rs 58 cr

 

The net profit of Muthoot Capital Services Ltd, part  of the 129-year-old Muthoot Pappachan Group, increased to Rs 6.06 crore in the December 2015 quarter from Rs 5.34 crore reported in the same quarter a year ago. The net profit was up 14% driven mainly by the increased disbursements in the South India.

The total income of the company increased to Rs 58 crore for the quarter ended 31st December 2015, from Rs 47.29 crore for the corresponding period last year - a growth of 23%.

As per a statement of the company, its interest expenditure increased at a slower pace, from Rs 18.65 crore during the third quarter last year to Rs 22.12 crore during the corresponding period this year, recording an increase of 19%.

Thomas George Muthoot, Managing Director of the company said: “The company has continued to maintain the profitability in spite of adverse market conditions. It continues to focus on the twin objective of giving easy two wheeler loans and generating profits for its loyal shareholders."