Muthoot Capital Services reports net profit at Rs 26 cr in Jan-Mar quarter

Non-bank lender Muthoot Capital Services has reported a profit of Rs 25.96 crore for the March quarter

Press Trust of India Mumbai
The combined net profit of 20 cyclical companies in the index is expected to grow by 38.8 per cent YoY to Rs 1.01 trillion

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Non-bank lender Muthoot Capital Services has reported a profit of Rs 25.96 crore for the March quarter.

The listed entity of Muthoot Pappachan Group had reported a loss of Rs 151.83 crore in the year-ago period.

The total income grew 7 per cent to Rs 115.6 crore in the reporting quarter, as against Rs 109.16 crore in the year-ago period.

For the full fiscal, the company reported a net profit of Rs 78 crore as against a loss of Rs 161 crore in FY22. The amount disbursed in FY23 increased 15 per cent to Rs 1,318 crore in the year ended 31st March 2023. The total assets under management reached Rs 2,102 crore as on March 31.

Company has delivered improvement in all the key metrics, registered a robust growth in income as well as profitability, its managing director Thomas George Muthoot said.

He said the net non-performing assets are below the industry average and the post-Covid book has performed well.

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Its chief executive Mathews Markose said FY23 was a year of consolidation for the company.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

First Published: May 22 2023 | 10:06 PM IST

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