Muthoot Capital's strong Half-Year Results

Muthoot Capital Services Ltd. (MCSL), part of Muthoot Pappachan Group, declared unaudited standalone half-year results for the period ending Sept 30, 2023. The company posted a record net profit of INR 100.96 crores, showcasing a substantial growth from the previous year.

In a quarter-to-quarter comparison, net profit surged from INR 17.75 Crores to INR 83.21 crores. During the quarter, loans disbursed amounted to INR 328 crores, bringing the total Assets under Management (AUM) to INR 1771 crores. Furthermore, an ARC transaction of Rs.235 crores was carried out on substandard assets.

Managing Director Thomas George Muthoot attributed this performance to a dedicated team and commitment to innovation. CEO Mathews Markose highlighted successful ventures, expansion into new markets, and plans for digital sales. CFO Ramandeep Gill emphasized strong asset quality and strategic partnerships, anticipating continued growth with the approaching festive season.