Muthoot Capital Services net jumps 61 pc in Q2

Kochi, Oct 29: Muthoot Capital Services Limited, a city-based non-banking financial company (NBFC), has recorded a growth of 60.79 per cent as its net profit increased from Rs 84.81 lakh to Rs 136.37 lakh in the second quarter of this fiscal compared to the same period last year.

The total income jumped to Rs 436.23 lakh from Rs 279.08 lakh, registering an increase of 56.31 per cent, according to an official release in Kochi. In spite of the tight liquidity position in the market and the consequent hotting up of the interest rates, the company managed to restrict the increase in the interest expenditure incurred to only 28.88 per cent from Rs 113.33 lakh to Rs 146.06 lakh this year.

The operational expenses during the period recorded an increase of 142.12 per cent from Rs 33.76 lakh to Rs 81.74 lakh.

Considering the cumulative performance for the two quarters in the half year ended September 2008, the increase in the net profit during the period was from Rs 154.62 lakh to Rs 258.55 lakh, a growth of 67.22 per cent, the release said.

UNI