Muthoot Capital registers ₹26 crore net profit in Q4
Mathoot Capital Services Ltd recorded a net profit of ₹78 crore during the year ended 31st March 2023. The company reported a net profit of ₹26 crore for the fourth quarter as against a loss of ₹152 crore presented in the corresponding quarter of the previous year.
Total income increased to ₹115.6 crore during the quarter from ₹109.16 crore during the same period last year, registering a growth of 7 per cent.
The amount disbursed saw a 15 per cent YoY increase from Rs.1,147 crore to Rs.1,318 crore. Total assets under management were ₹2,102 crore, including DA portfolio of ₹4.89 crore.
Thomas George Muthoot, Managing Director of Muthoot Capital Services Limited He said, “We have recovered from the losses we incurred in the last fiscal year. The company has improved in all key metrics, recording strong income growth as well as profitability with a higher return on equity. Our NNPA is below the industry average, and the book has achieved Post covid we performed exceptionally well and the goal for this year is to grow more supply channels this year as we have already built our syndication business and are looking forward to adding more partners We believe MCSL will continue to generate sustainable growth and profitability in the following quarters as well”
Matthews Marcuse, CEO And He said And “Last year was one of consolidation for us, as we were successfully able to bring our net NPA levels below the industry average. We expect the two-wheeler industry to return to pre-coronavirus levels this year, which will act as a tailwind for our next growth phase. We are also diversifying our product range and focusing more on the used car business.
said Ramandeep Gill, Chief Financial Officer The contribution of new supply channels such as syndicated lending has shown itself very well and we will continue to grow by adding new partners. The focus will be on improving efficiencies through technology changes in the coming quarters.