Non-banking financial company (NBFC) Muthoot Capital Services (MCSL) Monday reported a 94.2 per cent year-on-year rise in profit after tax at Rs 20.13 crore in the quarter ended September.
The company had posted a net profit of Rs 10.37 crore in the year-ago period, and Rs 20.6 crore in the quarter ended June this year.
Vinod Panicker, chief financial officer, Muthoot Capital Services, said the firm's net profit fell on a sequential basis due to lower disbursement and recovery, following floods in Kerala.
"Floods in Kerala in August affected loan disbursement and recovery in the second quarter, compared with the June quarter. But now we are seeing things getting normal,"he said.
The overall net interest income (NII) went up to Rs 180.59 crore in the September quarter, against Rs 115.74 crore in the same quarter last year.
The total income grew 39.5 per cent to Rs 132.03 crore, compared with Rs 94.65 crore.
Gross non-performing assets (NPAs) stood at 5.6 per cent, while the net NPA was at 3.5 per cent.
The company disbursed two-wheeler loans of Rs 469.7 crore in the quarter, compared with Rs 449.91 crore in the year-ago period.
Total disbursement stood at Rs 541.75 crore, against Rs 477.23 crore last year.
The total asset under management (AUM) reached Rs 2,515.23 crore at the end of the quarter, including securitised portfolio of Rs 422.73 crore.
The company's shares closed 3.99 per cent lower at Rs 753.70 apiece on the BSE Monday, against 0.53 per cent decline in the benchmark.
