Muthoot Capital Services posts Rs53.68 cr net profit

KOCHI: Muthoot Capital Services reported a net profit of Rs53.68 crore for the year ending March 31, 2018 compared with Rs30.09 crore the company recorded for the same period last year – a jump of 78.39 per cent.

While the company turned in a revenue (from operations) of Rs397.73 crore compared with Rs284.04 crore for the comparable period last year, the other income also surged from Rs16 lakh to Rs36 lakh for the current period.

While the total expenses were to the tune of Rs315.63 crore (238.01 crore), the provisions and write off took off Rs33.59 crore from the earnings of the company. While the share capital increased from Rs12.47 crore to Rs16.45 crore, the reserves and surplus also expanded from Rs177.98 crore to Rs393.93 crore during the year under review.

During the year, the company had allotted 27.28 lakh equity shares through Qualified Institutional Placement (QIP) at a price of Rs605 per equity share with a face value of  Rs10, with a premium of Rs595 per share, aggregating Rs165.02 crore. The total assets of the company also witnessed a substantial growth during the year from Rs1278 .19 crore to Rs1977.79 crore.

 

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