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Kochi, May 16 The net profit of Muthoot Capital Ltd grew by 96 per cent to Rs 4 crore (Rs 2.04 crore) for the fiscal 2007-08.

The turnover of the company grew by 53 per cent to Rs 12.25 crore (Rs 8.02 crore), a press release issued here has said.

The board which met at Kochi on Monday has recommended a dividend of 15 per cent to the existing shareholders.

The company has plans to start margin financing for share market operations.

It has decided to expand its branch network, especially in the North.

It has drawn up plans to open 20 new branches in Central and North India by March 2009.

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