Muthoot Capital Service Ltd records net profit of Rs. 5.39 cr in Q2 2014-15
Pune (Nov. 6, 2014): The unaudited financial results of Muthoot Capital Services Limited, part of the Muthoot Pappachan Group, for the quarter ended 30th September, 2014 reveals continued good performance. The Board of Directors of the Company which met here today approved the financial results of the Company for the quarter and the half year ended 30th September 2014.
The Company recorded net profit of Rs.5.39 crores for the second quarter of financial year 2014-2015. The net profit for the corresponding quarter last year was Rs. 5.13crores. The Total Income of the Company increased to Rs.46.82 crores during the quarter ended 30th September 2014, as compared to Rs.37.99 crores during the corresponding period last year. The profit before tax for the second quarter was Rs. 8.16 crores as compared to Rs. 8.15 crores during the corresponding period last year.
Considering the cumulative performance for the two quarters in the half-year ended 30th September 2014, the Company achieved a total income of Rs. 92.02 crores compared to Rs.72.83 crores for the corresponding period last year. The profit before tax for the half year is Rs 16.32 crores compared to Rs 17.24 crores for the corresponding H1 last year. The Company recorded net profit amounting to Rs 10.80 crores for H1 2014-15 compared to Rs. 11.11 crores for the corresponding period last year.
“The Company is mainly into financing purchase of two wheelers at present. The Company has been able to continue its good performance in spite of the declining trend in the markets present, due to its strong brand value and extreme customer focus” said Mr. Thomas George Muthoot, Managing Director.
“To increase the business levels substantially, the Company is planning to add other loan products like lease financing and top-up/ personal loans in addition to financing purchase of second hand cars”, said Mr. R. Manomohanan, CEO of the Company.