Muthoot Capital Services Ltd records net profit of Rs 5.41 crore for June quarter

KOCHI: Muthoot Capital Services Ltd, a Muthoot Pappachan Group company, has recorded a net profit of Rs 5.41 crore for the quarter ended June 30, 2014.

The company recorded a total income of Rs 45.20 crore for the quarter, which is 30 per cent higher compared to Rs 34.85 crore for the same quarter in the previous year.

As a result of the higher rate of increase in expenses compared to the increase in revenues, the net profit declined by 10 per cent to Rs 5.41 crore from Rs 5.98 crore for the corresponding quarter last year.

Expressing happiness at the result Thomas George Muthoot, Managing Director, Muthoot Capital Services Limited said that in spite of the adverse business conditions, the loan disbursal has been consistent. "The company is planning to improve the performance by increasing the geographical reach and introducing new products and variants of the present products" he said.