Muthoot Capital Services Ltd profit up by 36 per cent

Leading two wheeler finance company The Muthoot Capital Services Ltd recorded a net profit of Rs 6.09 crore for the first quarter of 2017-18, an increase of 36 per cent compared to the corresponding quarter last year.

The company grew its Assets under Management (AUM) from Rs 1,090 crore as of June 30, 2016 to Rs 1,559 crore as on June 30 2017, a growth of 43 per cent in the current quarter.

It disbursed two wheeler loans amounting to Rs 340.56 crore during the quarter to 67,398 persons compared to 48,566 persons given loans totalling Rs 232.69 crore in the same quarter last year, recording a growth of 46.4 per cent in the quarter, compared to the corresponding quarter of the previous year, a company release said here today.

Muthoot Capital Services Ltd achieved a total income of Rs 79.76 crore for the quarter ended June 30 2017 as against Rs 64.26 crore for the same period last year, a growth of 24.1 per cent, a company release said.

Thomas George Muthoot, Managing Director, Muthoot Capital Services Limited, said that "We have been and continue to be a leading provider of two-wheeler finance in South India.

"Our aim is to emerge as a leading national player in the realm of two-wheeler loans, spreading our wings across the markets', he added.

(This article has not been edited by DNA's editorial team and is auto-generated from an agency feed.)