Muthoot Capital Expects Its Asset Quality To Improve By March 

Muthoot Capital Services Ltd. expects its asset quality to improve by March this year, its Chief Financial Officer Vinodkumar M Panicker said.

At present our gross non-performing assets stand at 5.7 percent and out net NPA stands at 3.23 percent. We expect it to come down to 5 percent and around 3 percent respectively, Panicker told BloombergQuint in an interaction.

Panicker also expects Muthoot Capital’s assets under management to reach around Rs 2,950 crore by March 2019.

Key Earnings Highlights (Q3, YoY)

• Net interest income up 38 percent at Rs 101 crore
• Net profit up 48 percent at Rs 23 crore.
• AUM up 31 percent to Rs 2,596 crore.
• Disbursements down 5 percent at Rs 502 crore.
• GNPA at 5.7 percent versus 5.6 percent (QoQ).
• Borrowing cost 9.7 percent versus 9.4 percent (QoQ).
• Return on asset at 4.3 percent versus 4 percent (YoY).

Watch the full interaction here: