Muthoot Capital FY19 profit jumps 54%

Kochi: Muthoot Capital Services (MCSL) posted a net profit of Rs 82.4 crore in 2018-19 against Rs 53.7 crores in the last year, a growth of 54%. The amount disbursed saw a year-on-year increase of 8% from to Rs 2135.1crore. The total assets under management (AUM) reached Rs 2741.1 crore, including the securitized portfolio of Rs 656.8 crore.

The net profit showed a drop of 15% during the quarter ended March 2019 to Rs 18.4 crore from a year ago. The total income increased by 15% to Rs 136.7 crore in the quarter. The drop in the net profit was on account of the increased financing cost, marketing costs and deferment of recognition of income on receipt basis, in respect of securitization transactions as per the RBI guidelines, the company said.

Commenting on the results, Thomas George Muthoot, MD of Muthoot Capital Services Limited said, “The company’s growth has been both rapid as well as, sustained over the years. We are continually looking at fresh business ideas, new products & solutions for our core customer profile and are driven by technology. ”


Madhu Alexiouse, chief operating officer, of the company said, “In view of the geographical de-risking strategy initiated about 3 years ago, we grew our non-south disbursements from 6.2% to 30%. We have made steady progress in the used car business, and we expect to further strengthen our focus on this in the upcoming year.”