Money & Banking

Muthoot Capital Services net profit declines to Rs 8.9 crore in Q4 of FY21

Our Bureau Kochi | Updated on June 20, 2021

Total AUM reaches Rs 2088.5 crore

Muthoot Capital Services Ltd has posted a net profit of Rs 8.9 crore in Q4 of FY21 as against Rs 13.6 crore in the same quarter last year. The net profit for the whole year was Rs 52.2 crore against Rs 60.2 crore of previous year.

The total income for the quarter touched Rs 109.6 crore. With things slowly starting to return back to normal, the company while continuing to adopt a conservative approach disbursed total loans amounting to Rs 290.9 crore during the quarter.

The total AUM reached Rs 2088.5 crore at the end of the quarter, including the assigned portfolio of Rs 16.6 crore.

Thomas George Muthoot, Managing Director, Muthoot Capital Services Ltd, said, “While we saw some improvement, the challenging period for business is still continuing in view of the second wave that the country is witnessing. While the business is expected to do well going forward due to various requirements of social distancing, need for your own personal vehicle, the trends seen during the last festive season etc, it could be a month or so more before we start moving towards normalcy. The pre-Covid levels could be a quarter away. While we are hopeful of volumes to return based on the festivals in the locations that we are doing business in, it is the pent-up demand and the postponed demand/ volume that we are confident of driving our volumes in the next 3 quarters.”

Madhu Alexiouse, Chief Operating Officer said, “During the last two quarters of FY 21 we were seeing increased demand and while in March there was a pause in growth, the other months were excellent. But with the second wave coming up in the second half of the current year, things did stop for a while.

Published on June 20, 2021

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