Muthoot Capital net profit rises 15% for Q2

KOCHI: Muthoot Capital Services Limited, part of the financial services major Muthoot Pappachan Group, has recorded 15% rise in the net profit at Rs 6.18 crore and 21% hike in the revenues at Rs 56.50 crore for the quarter to September 30, 2015 than a year earlier.

The total income stood at Rs.56.50 crore compared with Rs.46.82 crore during the corresponding period last year, registering an increase of 21%. The profit before tax for the second quarter increased 17% to Rs.9.55 crore.

The main focus of the company continues to be two wheeler loans. The total loans of the company increased 27% to Rs 914.33 crore as on September 30,2015.

"We have already added car loans, top up loans etc to boost the business growth. We plan to expand business in the northern and eastern states leveraging the network of group companies in those states." said Thomas George Muthoot, managing director, Muthoot Capital Services Ltd.