Muthoot Finance profit drops 21% on loan growth stagnation


Net profit in the corresponding quarter a year earlier was Rs 246.10 crore, the company said in a filing to the BSE. Total income declined to Rs 1,285.79 crore during the quarter from Rs 1,293.78 crore a year ago. The year-on-year decline in profits during the quarter was on account of stagnation in loan growth and lower yield on liquidated loan accounts, Managing Director George Alexander Muthoot said in a statement. Reuters Expenses were high on account of lenders continuing higher level of interest and administrative expenses going up with the addition of branches in the past one year, he said. The companys retail loan assets under management stood at Rs 25,848 crore as of June 30.

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Mr Dar told the ambassador that the IMF management had agreed to increase bailout package to $6.5bn from $5.3bn offered by its staff mission early this month but Pakistan was insisting on increasing it to $7.3 billion to bridge the gap between external inflows and outflows. Mr Dar said all progress on details of the programme have been positive so far and athe only pending issue that needs to be resolved was the size and tranches of the loan.a aEven with $7.3 billion loan, Pakistan will be facing a financing gap of about $0.5 billion,a the finance minister told Mr Olson, elaborating that in case of $6.5bn offered by the IMF, the gap would go beyond $1bn and hence US support in the IMF board would be of crucial importance. An official statement said the issue of Bilateral Investment Treaty (BIT) between the two countries also came under discussion during the meeting. The US has been pushing early signing of the agreement to facilitate US investment in Pakistan but some strong protectionist rights to US investors were being opposed in relevant government quarters because the US demand involves dispute resolution directly through international arbitration without first completing Pakistanas judicial process. The finance minister, however, informed the ambassador that he had been pre-occupied with budget and circular debt issues and would now plan to obtain input from all stakeholders in the government to take the process forward.

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Besides, if you want to rise up to executive ranks, you will sooner or later need to successfully acquire business development skills. Why put it off? Look at partners at investment banks and consulting firms: most of their time is spent in client development. For those of you who are entrepreneurially deficient, this means bringing in revenue (money) to the office so that the office can afford to pay salaries (and put food on the table for everyone). Hedge fund managers and private equity partners are often on road shows raising capital and selling their investment theses to cynical high-net-worth investors , family offices and institutions.

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Council in 2008. Exhibit B is the Democrats 2010 campaign for council chairman. Both efforts seem to have been rife with infractions of the rules on collecting and spending money. Incredibly, its likely that any violations will go largely unpunished because of an enforcement system that lacks teeth or real penalties. Mr.


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