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:
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