Muthoot Capital Services zooms 20% on strong Q3 results

Muthoot Capital Services was locked in upper circuit of 20% to Rs 799 also its record high on BSE, after the company reported a more than doubled net profit at Rs 157 million for the quarter ended December 2017 (Q3FY18).

The company engaged in the business of financing had profit of Rs 64 million in the same quarter last year.

Net interest income (operational revenue minus finance costs) grew 68% at Rs 730 million against Rs 434 million in the corresponding quarter of previous fiscal.

In past one year, the stock has outperformed the market by surging 260% against 28% rise in the S&P BSE Sensex.

On the National Stock Exchange (NSE), the stock was trading 19% higher at Rs 800, after hitting a record high of Rs 803 in intra-day trade so far. Till 12:04 PM; a combined 830,777 equity shares changed hands on the counter on BSE and NSE.