Muthoot Finance reports 18% drop in Q4 net profit

Muthoot Finance has reported results for fourth quarter and year ended March 31, 2014. The company has posted a fall of 17.77% in its net profit at Rs 180.94 crore for the quarter ended March 31, 2014 as compared to Rs 220.04 crore for the same quarter in the previous year. Total income of the company has decreased by 17.88% at Rs 1159.08 crore for quarter under review as compared to Rs 1411.54 crore for the quarter ended March 31, 2013. For the year ended March 31, 2014, the company has posted a fall of 22.32% in its net profit at Rs 780.06 crore as compared to Rs 1004.23 crore in the previous year. Total income of the company has decreased by 8.16% at Rs 4947.43 crore for year under review as compared to Rs 5387.13 crore for the year ended March 31, 2013. Muthoot Finance is the largest gold financing company in India in terms of loan portfolio. The company is a Systemically Important Non-deposit taking NBFC headquartered in the southern Indian state of Kerala and with its corporate office in New Delhi.