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Muthoot Finance Ltd Q3 FY 2015 Results | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Kochi, Kerala, India
Muthoot Finance Ltd., the largest gold financing company in India in terms of loan portfolio, declared a net profit of Rs. 154 crs in the third quarter of FY15 and Rs. 505crs for the nine months ended FY15. Total income stood at Rs. 1069 crs and at Rs. 3223 crs respectively.
Commenting on the results M G George Muthoot, Chairman stated, “Company continues its growth momentum with a growth in gold loan portfolio of Rs. 315 crs during the quarter. We are glad that we could reverse the degrowth trend in portfolio which prevailed past few quarters. We are also glad to announce that networth of the company has crossed Rs. 5000 crs during the quarter. Company entered into an agreement with Yes Bank for acting as Banking Correspondent, initially, for providing domestic money transfer services. Company acquired further equity shares of Asia Asset Finance PLC Colombo, a listed financial company in Srilanka so as to increase the holding to 51% making it a subsidiary. Company intends to activate gold loan business in Sri Lanka through this company.”
Speaking on the occasion George Alexander Muthoot, Managing Director said, “Considering the long pause in growth due to regulatory uncertainties, a continued growth in two adjacent quarter is certainly a positive sign. We expect profitability to improve further along with the increase in the loan portfolio. Company’s NCD Public Issues are receiving tremendous response from retail investors and is planning to launch our next issue in February.”
Business Highlights:
About Muthoot Finance Ltd. Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio. The company is a “Systemically Important Non-deposit taking NBFC” headquartered in the southern Indian state of Kerala. Operating history of Muthoot Finance has evolved over a period of 76 years since M George Muthoot (the father of our Promoters) founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887.
The company provides personal loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.
Company is listed on both National Stock Exchange and Bombay Stock Exchange.
Safe Harbor Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company. Therefore the investors are requested to make their own independent assessments and judgments by considering all relevant factors before making any investment decision.
For detailed results table, click here |
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Media Contact Details
Babu John Malayil
Muthoot Finance Ltd 0484- 2396478 Rama Naidu
Adfactors PR 91-9920209623 |
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