The Hindu : Business : Muthoot Capital Services posts 137 per cent rise in profit

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Friday, Feb 09, 2007
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Business

Business

Muthoot Capital Services posts 137 per cent rise in profit

Special Correspondent

The company has initiated steps for increasing its branches in South

KOCHI: Muthoot Capital Services Ltd, division of Muthoot Pappachan group, reported a 137 per cent rise in its profit before tax at Rs.106.40 lakh during the quarter ended December 31, 2006, against Rs.45.02 lakh during the corresponding period in the previous year.

After providing Rs.36.14 lakh for taxes, the net profit was up 123 per cent at Rs.70.26 lakh against Rs.28.78 lakh.

For the nine months ended December 2006, it reported a 130 per cent rise in its profit before tax at Rs.239.72 lakh against Rs.104.13 lakh in the same period in the previous year.

After providing Rs.81.45 lakh for taxes, the net profit was up 137 per cent at Rs.158.27 lakh against Rs.66.89 lakh.

Speaking about the result, Thomas George Muthoot, Managing Director, Muthoot Pappachan Group said: "We are very happy with the exponential growth Muthoot Capital Services Ltd has reported.

As a result the company has initiated steps for expansion by increasing its branches in the southern States."

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