Muthoot Finance Ltd today said posted a 27 per cent growth
in its net profit to Rs 514 crore for the half year ended September 30. The
company had a net profit of Rs 406 crore in the same period last fiscal, its
Chairman M G George Muthoot said. For the quarter ended September 30, the
company's profit rose 25 per cent to Rs 268 crore from Rs 215 crore in the same
period last year.
The total income for the half year period grew 29 per cent
to Rs 2,610 crore, he added. The company's board at its meeting here today also
decided to raise the public holding of its shares to 25 per cent from the
current 19.88 per cent in line with Sebi stipulation of minimum public holding
of 25 per cent by May 2014.
The dilution may be through any of the modes approved by
Sebi from time to time in one or more tranches or in combination of including
institutional private placement subject to shareholders’ approval, he said. Due
to the negative perception about the sector, while the asset growth
decelerated, borrowing cost went up considerably, he said.
The Capital Adequacy Ratio rose to 19.95 per cent and loan
losses for 6 months was at a negligible level of 0.014 per cent (Rs 3.25 crore)
of Retail Loan Portfolio. The company's Executive Director K Padmakumar said
despite the adversities, the firm was hopeful of retaining the profitability
metrics through customized portfolio restructuring and geographic expansion to
register handsome portfolio growth in the next half year. The asset base of the
company would go up by Rs 500 crore by the end of the current year.
Source: www.moneycontrol.com
Thanks,
Gaurav Agarwal
Head Dealer
DENIP Consultants Pvt Ltd
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