Vehicle-finance lenders, Muthoot Capitals third quarter net profit rose 48% to Rs.23.3 crores from Rs.15.7 crores in last year quarter on back of growing asset quality.The growth came despite liquidity crunch in NBFC sector and a lacklustre two-wheeler sales in quarter owing to increased insurance price in segment.As far as MCLS is concerned, were into small ticket loans.
If there are any short-term shock we can manage thatliquidity problem is a short-term concern for us because weve a strong collection on ground, said Madhu Alexiouse, Chief Operating Officer, Muthoot Capital.The total income touched INR 142.3 crores, against INR 105.2 crores for corresponding quarter of previous year, showing a growth of 35 %.The NBFCs disbursed Rs.493.1 crores of their total advances of Rs.502.1 crores for vehicle loans, which is their majority portfolio, during quarter.
The total AUM (Assets under Management) reached INR 2596 crores at end of quarter, including securitized portfolio of INR 438.3 crores.With new product launches in line for upcoming quarters, company said that it plans to reach Rs.4000 crore AUM by end of 2020, Alexiouse said.