Muthoot finance posts double increase in profits for Q1
By Vaibhav Aggarwal
Jul 28, 2011
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Leader in gold financing, Muthoot Finance has posted commendable growth by 125% in its net profit for the first quarter of this fiscal.

The net profit of the company for Q1 stood at Rs 190 crore as compared to Rs 85 crore for the same period in the last fiscal.

The total income for the company figured to Rs 920 crore as against Rs 383 crore earlier, a growth by 140%.

"We are glad that in spite of significant increase in borrowing cost, we have been able to maintain our return on assets and manage good growth. We continue to remain focused on India's vast rural and semi-urban areas to deliver the best in terms of financial inclusion whether it be on customer service or in loan conditions," said Mr M.G. George, Chairman, Muthoot Finance Ltd.



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