Muthoot Capital Services posts ₹122.66 crore net profit in FY24
Muthoot Capital Services Limited (MCSL) has posted a net profit of ₹11.68 crore for the quarter ending March 31, recording a growth of 17 per cent from Q3.
In a year-on-year comparison with the same period of the last financial year, the net profit increased from ₹78.68 crore to ₹122.66 crore, a growth of 55 per cent from the same period last year.
The company disbursed loans amounting to ₹1,438.42 crore during the year. The total AUM (assets under management) reached ₹2,018.17 crore.
Thomas George Muthoot, Managing Director, Muthoot Capital Services Limited, said, “FY24 was a year of resurgence for MCSL where we registered very strong performance on all fronts. Our disbursements grew 9 per cent y-o-y to reach ₹1,438 crore, our GNPA reduced by over 50 per cent and we registered all-time high PAT of ₹122 crore. All these were made possible due to a carefully articulated strategy, meticulous planning, and voracious execution.”
Mathews Markose, Chief Executive Officer, said, “Our objectives centre around AUM growth with a healthy ROA, growth in market share, diversifying into a multi-product company, effectively using the network within the group for customer acquisition, strengthening our asset quality, digital transformation, cross-selling and upselling on the existing base, being an employer of choice and able to attract talent, and creating an organisational culture of constant renewal.