Non-Banking Financial Company (NBFC) Muthoot Capital said that their net profit jumps three-fold from Rs 6.1 Crore to Rs 20.6 crore in the first quarter ending June 2018 compared to the June 2017 period.
The total revenue of Muthoot Capital also registered a growth of 56.2% in 2018. The total revenue increased to Rs 124.2 crore during the quarter ending June 2018, from Rs 79.5 crore during the same period last year.
The Company‘s portfolio includes commercial and consumer finance products, such as vehicle loans, gold loans, loans against property, bonds, deposits, investment products and advisory services. The Company also disburses loans against property, shares, gold exchange-traded funds (ETFs), small and medium enterprises (SME) loans, mortgage loans, leasing and hire purchase loans, and bill discounting. The Company has a presence in the non-banking financial sector in rural and semi-urban areas.
Thomas George Muthoot, Managing Director, Muthoot Capital Services Limited said, “MCSL’s results reflect the success of the group’s strategic move towards customer-centric digital transformation to provide financial services at the doorstep of the common man.”
Headquarter in Kochi, Muthoot Capital incorporated on February 18, 1994, as a public limited company. On March 23, 1994, the company obtained the Certificate of Commencement of Business. In February 1995, the company came out with the public issue and their shares were listed on the Bombay Stock Exchange.