Muthoot Finance profit drops 21% on loan growth stagnation

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July 29, 2013 by apicomely

How Finance Fueled Students’ And Nonprofit’s Future

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.

Fire alarm from finance minister

Take every opportunity to grow, especially in regard to developing both technical and soft skills. This means regularly attending finance seminars and conferences, participating in professional development in the workplace, and asking for regular feedback. According to Ian K. Snow, CEO and Partner of Snow Phipps, they’re looking for junior employees with strong analytical, finance, accounting, and modeling skills.

Recent Grads: Passion Is the Secret Ingredient to Success in Finance

We interviewed the borrowers CFO and presented our findings to RSFs credit committee for final approval. With this experience under our belts and with the knowledge that there are innumerable nonprofits that could benefit from impact investments, we devised sofiwire.com , a database for social enterprises to search for funding given their individual characteristics. Student interest isnt the only expanding aspect of impact investment. Financial firms including Goldman Sachs are turning to impact investing as another profitable revenue source that may do even more for their reputation than for their bottom line. Boston Consulting Group estimates impact investing in the market may comprise as much as 1 billion ($1.5 billion) by 2016. The Global Impact Investing Network (GIIN) is even more optimistic, estimating that, of those already engaged in impact investing, 5-10 percent of overall portfolios will be allocated to impact investments in ten years. With customer activism and public fallout from 2008 still lingering, investors and foundations are speaking up: a rapidly growing supply of capital is seeking placement in impact investments across geographies, sectors, and asset classes, with a wide range of return expectations ( GIIN ).

Reuters

Difficult, as it is for him to accept, now more than ever, he needs the governors; and they need him. When federally allocated revenue dwindles, every elected official faces monumental problems at his own level. The President nationally and the governors in their states will find the voters totally united against them. Irrespective of political party or affiliation, any possible upheaval will affect all because most politics is really local.

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