Muthoot Finance Ltd. declares maiden dividend of 40%
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Muthoot Finance has registered a more than 80% increase in its net profit, which remained at Rs 892 crore for the fiscal year 2011-12.
Leading gold loan firm had registered a net profit of Rs 494 crore during the same period of 2011.
Company’s total income during the year grew by more than 96% at Rs 4,549 crore as compared to Rs 2,316 crore during the same period of 2010-11.
The company's directors have announced a maiden dividend of 40% for the financial ended March, 2012 that was subject to shareholders nod.
The company’s operating surroundings had been considerably redefined owing to the restrictions levied by RBI during February 2011 on the highest loan, which could be given against the worth of the jewels pledged.
Company’s Managing Director Alexander George Muthoot made this announcement.
The company was taking 'fleet footed steps' to continue growth and success in the altering business environment complying with the RBI regulations.
The stock looks good for medium or long term investment.
The investors can buy the stock on declines.
Expect asset growth to be muted in FY13: Muthoot Finance
Muthoot Finance eyes 10% growth in assets under management