Muthoot Finance net jumps 117% in FY11

Non-banking finance company, Muthoot Finance Ltd, which specialises in gold loans, posted a net profit of Rs 494 crore for the 2010-11 fiscal, a growth of 117 per cent as compared to Rs 227 crore in the previous fiscal. A press release issued by the company said that total income for FY2010-11 stood at Rs 2,316 crore, as compared to Rs 1,089 crore in the previous year, a growth of 112 per cent. The gold loan outstanding as on March 31, 2011, was Rs 15,728 crore (Rs 7,341 crore), higher by 114 per cent. Capital Adequacy Ratio stood at 15.82 per cent. The percentage of gross non-performing assets on gross retail loan fell to 0.29 per cent (0.46 per cent). The shares of Muthoot Finance closed at Rs 157.30, up 1.29 per cent, on the BSE, on Thursday.