The Hindu Business Line : Muthoot Capital full-year net up 92%

Kochi June 2 The net profit of Muthoot Capital Services has risen by 92 per cent to Rs 3.17 crore for the year 2006-07, up from Rs 1.65 crore in the previous year.

The profit growth was backed by a strident growth in business volumes, which grew by 82 per cent to Rs 8.02 crore from Rs 4.41 crore, Mr Thomas George Muthoot, Director of the company, said.

The company has recorded basic earnings per share of Rs 3.15 for the year against Rs 1.66 for the previous year. Mr Muthoot said that the board had recommended a dividend of 12 per cent, up from 10 per cent last year subject to ratification from the AGM.

For the last quarter of last fiscal, the company had posted a net profit of Rs 77.91 lakh (Rs 61.62 lakh), recording a growth of 26.43 per cent. The turnover for the quarter grew by 31.92 per cent to Rs 2.1 crore (Rs 1.59 crore).

The company is into distribution of home loan products, automobile loans, comprehensive insurance solutions for life, health, home, office, motor vehicles and travel, as well as international money transfer and investments. The shares of the company closed at Rs 39.85 on the BSE on Friday.