Comments
Muthoot Capital Services Ltd has registered a 34.87 per cent growth in its net profit touching Rs 338.14 lakh in the second quarter, against Rs 250.71 lakh in the second quarter last year.
The total income increased to Rs 1,475.36 lakh from Rs 899.02 lakh, registering a growth of 64.11 per cent. Interest expenditure increased from Rs 257.35 lakh to Rs453.32 lakh, recording an increase of 76.15 per cent. The operational expenses during the corresponding period recorded an increase of 92.91 per cent from Rs 266.83 lakh to Rs514.75 lakh.
Mr Thomas George Muthoot, Managing Director, Muthoot Capital Services Ltd, said the company has already established itself as one of the leading players in automobile financing in Kerala. It has also established its presence in the other South Indian States and is in the process of expanding business in these States also. The company's loan products have been very well accepted in the market, especially in the rural and semi urban areas, he said.
The company is continuing to add loan products to its portfolio, always keeping in mind the requirements of the target group. The prime focus is on customer service and the business plan is always aimed at meeting the customers' needs, Mr R. Manomohanan, Chief Executive Officer, said.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.