Net profit of Muthoot Capital Services has registered an increase of 60.5%

The net profit of Muthoot Capital Services ( MCS) has registered an increase of 60.5% to touch Rs 15.51 crore for the fiscal 2011-12.

The Board of Directors of the company has recommended a dividend of 35 % per share. Last year the dividend stood at 30 %.

The revenue of MCS, a listed entity of the Muthoot Pappachan Group, has seen a 78.5% increase to a level of Rs 67.35 crore. The total loan portfolio of the company increased to Rs 296.8 crore, which represent a 69 % increase over the previous year's level.

The company has nearly 1 lakh borrowers at present, mainly in the two wheeler category.