According to a recent press repot, Mr. George Alexander, Managing Director, Muthoot Finance Limited Company has said that the company has recorded growth in profit of about 88 percent in the second quarter. The company has attained a net profit Rs. 215 core during the second quarter September 30, which is Rs. 100 core more than the previous corresponding year.
Reports said that the profit for the six month ending was Rs 406 core, which is more than the previous month’s results of about Rs. 199 core. The total income of the company in FY11 was Rs. 529 core and for the FY12 the total income was only Rs. 1,105 core which is 109 cores more. Reports also said that the retail loan assets have increased to Rs 20,940 core.
Reports said that the profits obtained were mainly through the increase in interest rates. It said that the response from the customers for gold loans were good.
Mr. Thomas George Managing Director, Muthoot Capital Services Limited, said that they had achieved a profit of Rs 338.14 lakh in the second quarter, which is more than the corresponding previous year’s results Rs 250.17 lakh. The bank’s total income has gone up to Rs. 1,475.36 lakh and it has attained a growth of 64.11 percent.