Muthoot Finance Q4 Net dips 9% at Rs 165 crore

MUMBAI: Gold financing company Muthoot Finance today reported a 9 per cent dip in its net profit at Rs 165 crore in the January-March quarter.

The net profit for the same period year-ago stood at Rs 181 crore.

For the full year, its profit after tax dropped 14 per cent to Rs 671 crore from Rs 780 crore last fiscal, the company said in a release here today.

Total income dropped by 5 per cent to Rs 1,101 crore in the quarter under review as against Rs 1,159 crore in the same period last year.

Its retail loan asset under management stood at Rs 23,408 crore in the quarter as against Rs 21,862 crore last year.

Capital adequacy ratio as on March 31 stood at 24.78 per cent as against 24.69 per cent in the year ago period.

Gold loan outstanding grew 8 per cent to Rs 23,350 crore in FY15 from Rs 21,618 crore last year.

It maintained a higher standard asset provisioning of 0.50 per cent against regulatory requirement of 0.25 per cent.