Muthoot Capital Services Ltd has recorded 15 per cent rise in net profit at ₹ 6.18 crore and 21 per cent rise in revenue at ₹56.50 crore in Q2 against the corresponding quarter last fiscal.
Finance expenses increased by 12 per cent to ₹ 21.68 crore, while other expenses went up to ₹ 25.27 crore, recording an increase of 30 per cent.
Considering the cumulative performance for the two quarters in the half-year ended September 30, the company achieved a total income of ₹107.15 crore compared with ₹92.02 crore in the corresponding period last year, recording a growth of 16 per cent.
The company has recorded a net profit amounting to ₹9.93 crore in H1 2015-16, which was 8 per cent lower compared with ₹10.80 crore in the corresponding period last year. It has disbursed 78,587 loans during the half year totalling ₹359.21 crore.
"While the company continues to focus on two-wheeler financing, we have already added car loans, top-up loans etc. to boost the business growth,'' Thomas George Muthoot, Managing Director, said.
According to R. Manomohanan, CEO, the company is also planning to employ the digital platform for marketing, operations and delivery to boost the volumes and improve profitability.