Riding on robust two-wheeler sales, higher geographical spread and various innovative strategies, Muthoot Capital Services reported a 28.66 per cent rise in net profit to ₹10.37 crore in the second quarter of this fiscal from ₹8.06 crore in the corresponding year-ago quarter.
The total income in the quarter touched ₹94.86 crore against ₹70.08 crore in the year-ago period. During the half year, the company recorded a net profit of ₹16.46 crore, a 31.26 per cent increase over the ₹12.54 crore recorded in the corresponding period last year.
“The promising macro indicators and the overall improvement in the sentiments that triggered higher rural demand contributed to our excellent performance,” said Thomas George Muthoot, Managing Director, Muthoot Capital Services.