Muthoot Capital Services Limited has achieved a net profit of ₹19.66 crore in the third quarter of the financial year 2022-23 against ₹4.52 crore in the corresponding period the previous year. The company posted a net profit of ₹52 crore during the nine months ended December 31, 2022, against ₹18 crore loss during the same period last year.
Total income increased to ₹112.8 crore during the quarter, from ₹93 crore during the same period last year, registering a growth of 21 per cent. Total AUM (assets under management) touched ₹2,141 crore.
Thomas George Muthoot, Managing Director, said, “Muthoot Capital Services Limited has sustained its growth in line with the growth in two-wheeler industry. Company has delivered improvement in all the key metrics, registered a robust growth in income as well as profitability with high-teen ROE [return on equity]... building a quality portfolio besides leveraging the network of our flagship company, Muthoot Fincorp Limited, and co-lending partnerships has helped. We believe MCSL will continue to deliver sustained growth and profitable book in the following quarters as well.”
Madhu Alexiouse, Chief Operating Officer, said, “There had been strong focus on business hygiene to deliver robust book. The collections had been very encouraging and give us the confidence that we would be able to sustain and continue to deliver profitable results.”
Ramandeep Gill, Chief Finance Officer, “The overall aim is to deliver a profitable business to the stakeholders, (while) at the same time continuously monitoring the asset quality. With the overall improvement in collections, we are heading towards creating a strong business, which will be a blend of caution and growth.”