Gold LoanGold Loan

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Muthoot Capital to extend loans Muthoot Capital to extend loans against gold ETFsagainst gold ETFs

Muthoot Capital Services Ltd is all Muthoot Capital Services Ltd is all set to introduce a new product set to introduce a new product providing loans against Gold providing loans against Gold Exchange Traded Funds. Modalities Exchange Traded Funds. Modalities in this regard will be worked out and in this regard will be worked out and the product will be launched shortly the product will be launched shortly

Mr Thomas George Muthoot, Mr Thomas George Muthoot, Managing Director, Muthoot Capital Managing Director, Muthoot Capital Services Ltd, said that the Gold ETFs Services Ltd, said that the Gold ETFs are securities issued by asset are securities issued by asset management companies against 995 management companies against 995 purity gold kept by them with purity gold kept by them with depositories depositories

The securities are in dematerialised The securities are in dematerialised form, easily transferable, easily en-form, easily transferable, easily en-cashable and are traded in stock cashable and are traded in stock exchanges exchanges

By introducing the new product, the By introducing the new product, the company will be putting to use the company will be putting to use the Group's core competence in granting Group's core competence in granting loan against gold to provide liquidity loan against gold to provide liquidity for investors in ETF thereby for investors in ETF thereby promoting popularity of ETF promoting popularity of ETF

It is estimated that there were about It is estimated that there were about two-and- a-half lakh investors in Gold two-and- a-half lakh investors in Gold ETF in the country and the product is ETF in the country and the product is gaining popularity among investors, gaining popularity among investors, he said. he said.

Auto loan tooAuto loan too

The company is also introducing Smart The company is also introducing Smart Plus Auto Loan under the automobile Plus Auto Loan under the automobile finance segment in which the full cost finance segment in which the full cost price of the vehicle is given as loan, price of the vehicle is given as loan, enabling the borrowers to leverage their enabling the borrowers to leverage their gold ornaments against the margin gold ornaments against the margin requirement. He said that the company requirement. He said that the company had disbursed Rs 138.53 crore in two-had disbursed Rs 138.53 crore in two-wheeler financing during the year 2010-11 wheeler financing during the year 2010-11 and is expected to disburse Rs 250-300 and is expected to disburse Rs 250-300 crore in the current fiscal crore in the current fiscal

The company is committed to meeting the The company is committed to meeting the needs of the market under automobile needs of the market under automobile finance sector and is aiming to become finance sector and is aiming to become the leading player in the segment in South the leading player in the segment in South India by March 2013. The company has India by March 2013. The company has been expanding the activities in the four been expanding the activities in the four south Indian states and Goa under the south Indian states and Goa under the automobile finance segment, mainly two-automobile finance segment, mainly two-wheeler financing, he added wheeler financing, he added

Mr R. Manomohanan, Chief Executive Mr R. Manomohanan, Chief Executive Officer, said that the net profit of the Officer, said that the net profit of the company has registered a growth of company has registered a growth of 29.96 per cent to touch Rs 29.96 per cent to touch Rs 267.90lakh during the quarter ended 267.90lakh during the quarter ended March 31 against Rs 206.14lakh in March 31 against Rs 206.14lakh in the corresponding quarter in the the corresponding quarter in the previous year previous year

The total income increased to Rs The total income increased to Rs 1153.62 lakh during the quarter from 1153.62 lakh during the quarter from Rs 662.29lakh, registering a growth Rs 662.29lakh, registering a growth of 74.19 per cent. The profit before of 74.19 per cent. The profit before tax during the corresponding period tax during the corresponding period has increased by 28.64 per cent from has increased by 28.64 per cent from Rs 313.71 lakh to Rs 403.57lakh Rs 313.71 lakh to Rs 403.57lakh

During the whole financial year, the During the whole financial year, the net profit of the company recorded net profit of the company recorded 34.75 per cent growth to touch Rs 34.75 per cent growth to touch Rs 966.55lakh against Rs 717.28lakh 966.55lakh against Rs 717.28lakh compared with last financial year.  compared with last financial year. 

The total income registered a growth The total income registered a growth of 67.87 per cent from Rs 2,247.56 of 67.87 per cent from Rs 2,247.56 lakh during the previous year to Rs lakh during the previous year to Rs 3,772.92 lakh in the current year. 3,772.92 lakh in the current year. Commensurate with increase in Commensurate with increase in operations, the interest expenses operations, the interest expenses increased by 67.30 per cent to Rs increased by 67.30 per cent to Rs 1157.07 lakh from Rs 691.61lakh in 1157.07 lakh from Rs 691.61lakh in the last year the last year

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