Muthoot Capital posts ₹16-cr net profit in Q2

Muthoot Capital Services Ltd has posted a net profit of ₹15.7 crore in Q2 of FY21 against a 14 crore in the same quarter last year.

The total income for the quarter touched ₹143.7 crore. With economic growthstarting tonormalise, the company disbursed two-wheeler loans amounting to ₹106.1 crore only and had a total disbursement of ₹116.1 crore during the quarter.

Total AUM reached ₹2,269 crore at the end of the quarter, including the assigned portfolio of ₹34 crore. For the same quarter last year, the company had a total disbursement of ₹487.8 crore, and AUM at the end of same quarter last year was at ₹2,760 crore. During the same quarter last year, the company reported a total revenue of ₹145 crore.

Thomas George Muthoot, Managing Director, said: “While we are seeing some improvement, the challenging period for business is still continuing. While the business is expected to do well going forward, due to various requirements of social distancing, need for own personal vehicles, the trend during the current festival season, it could be a couple of months before we go back to the pre-Covid levels. While the escalated price could play spoil-sport, the other reasons mentioned will definitely lead to more demand for two-wheelers.”