Muthoot Capital has declared a 20.8% growth in revenues to Rs. 69.88 crores in Q3FY17, compared to the same quarter the previous year. Muthoot also logged a 6.2% increase in net profit to Rs. 6.44 crores. The company has been relying on higher rural demand for growth this FY, with large disbursals of loans for two-wheeler and agri-related purchases.
The growth in Q3 this year despite demonetization impact is reportedly due to the increased geographical spread Muthoot Capital has achieved during the year, with more reach in North India and West Bengal compared to FY15.