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Muthoot Capital Services recommends 50 percent dividend

Kochi, May 25 (IANS) Muthoot Capital Services Ltd, the BSE listed non-banking finance company of the 128-year-old Muthoot Pappachan Group, on Monday declared a 50 percent dividend as it announced its audited financial results for the final quarter of and fiscal 2014-15.

The company, engaged in two-wheeler financing, has achieved substantial increase in revenue despite the adverse market conditions and managed to register increase in net profits which touched Rs.22.29 crore up from Rs.22.21 crore for 2013-14.

The audited financial results were approved on Monday by the board of directors, which recommended a dividend of Rs.5 for every share of Rs. 10.

During the last fiscal, the company's total income registered a growth of 20 percent to Rs.191.28 crore up from Rs.158.76 crore in 2013-14.