Muthoot Capital Services net up in third quarter

KOCHI: The net profit of Muthoot Capital Services Ltd for the quarter ended 31st December 2015 increased by 14 % to Rs. 6.06 crore from Rs.5.34 crore for the same quarter of the previous year.

The total income of the Company increased to Rs. 57.94 crore for the quarter ended 31st December 2015, from Rs.47.29 crore for the corresponding period last year, registering a growth of 23%.

Interest expenditure increased at a slower pace, from Rs.18.65 crore during the third quarter last year to Rs.22.12 crore during the corresponding period this year, recording an increase of 19%.

The total expenses during the corresponding period recorded an increase of 24%, from Rs. 39.17 crore to Rs. 48.59 crores. The profit before tax recorded an increase of 15% from Rs. 8.12 crore to Rs. 9.35 crore during the corresponding period.

The better performance in the quarter ended December 31, 2015 was driven by growth in disbursements especially in the Southern States.