- Home
- Results news
- Muthoot Capital Services
- Q4 FY25 results
Muthoot Capital Services Q4 FY25 results: net profit down 45.0% to ₹6.42 crore, revenue up 40.2%
Muthoot Capital Services Limited reported standalone revenue of ₹137.32 crore in Q4 FY25, up 40.2% from Q4 FY24, while net profit fell to ₹6.42 crore and basic EPS was ₹3.90. Total expenses rose to ₹133.40 crore, including finance costs of ₹67.62 crore and impairment of ₹16.55 crore.
Key points
- Revenue was ₹137.32 crore, up ₹39.35 crore or 40.2% from Q4 FY24 and up ₹11.64 crore or 9.3% from Q3 FY25.
- Total income was ₹140.38 crore, while total expenses rose 59.8% year on year to ₹133.40 crore.
- Profit before tax fell to ₹6.98 crore from ₹14.69 crore, and net profit fell to ₹6.42 crore from ₹11.68 crore.
- Basic EPS was ₹3.90, compared with ₹7.10 in Q4 FY24 and ₹7.63 in Q3 FY25.
- For FY25, revenue was ₹471.65 crore and net profit was ₹45.75 crore, against ₹398.40 crore and ₹122.66 crore in FY24.
How did Muthoot Capital Services perform in Q4 FY25?
Muthoot Capital Services reported standalone revenue of ₹137.32 crore in Q4 FY25, up ₹39.35 crore or 40.2% from ₹97.97 crore in Q4 FY24 and ₹11.64 crore or 9.3% from ₹125.68 crore in Q3 FY25. Total income was ₹140.38 crore, against ₹98.17 crore a year earlier and ₹126.14 crore in the previous quarter. The figures relate to the standalone basis; no consolidated result is provided in the supplied data.
Profit before tax fell to ₹6.98 crore from ₹14.69 crore in Q4 FY24 and ₹17.29 crore in Q3 FY25. Net profit was ₹6.42 crore, compared with ₹11.68 crore a year ago and ₹12.56 crore in the previous quarter. Basic EPS was ₹3.90, against ₹7.10 in Q4 FY24 and ₹7.63 in Q3 FY25; the net profit margin was 4.7%, down from 11.9% and 10.0%, respectively. EBITDA and EBITDA margin were not given.
| ₹ crore | Q4 FY25 | Q3 FY25 | Q4 FY24 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 137.32 | 125.68 | 97.97 | +40.2% | +9.3% |
| Other income | 3.06 | 0.46 | 0.20 | +1430.0% | +565.2% |
| Total expenses | 133.40 | 108.85 | 83.49 | +59.8% | +22.6% |
| Profit before tax | 6.98 | 17.29 | 14.69 | −52.5% | −59.6% |
| Tax | 0.56 | 4.73 | 3 | −81.3% | −88.2% |
| Net profit | 6.42 | 12.56 | 11.68 | −45.0% | −48.9% |
| EPS (₹) | 3.90 | 7.63 | 7.10 | −45.1% | −48.9% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Muthoot Capital Services' costs and profit?
Total expenses rose to ₹133.40 crore in Q4 FY25, an increase of ₹49.91 crore or 59.8% from ₹83.49 crore in Q4 FY24 and ₹24.55 crore or 22.6% from Q3 FY25. Finance costs were ₹67.62 crore, up ₹25.19 crore or 59.4% year on year and ₹6.11 crore or 9.9% from the previous quarter. Employee cost rose to ₹25.45 crore from ₹21.27 crore, while other expenses increased to ₹21.77 crore from ₹18.35 crore; depreciation was ₹1.93 crore against ₹0.33 crore.
Other income was ₹3.06 crore, compared with ₹0.20 crore in Q4 FY24 and ₹0.46 crore in Q3 FY25. There was no exceptional item. Tax expense fell to ₹0.56 crore from ₹3 crore a year earlier and ₹4.73 crore in the previous quarter. The investor presentation reported loan losses and provisions of ₹16.55 crore for the quarter, compared with ₹1.60 crore in Q3 FY25, while management said operating expenses were elevated in FY25 because of upfront investment in technology, new products and credit controls.
| ₹ crore | Q4 FY25 | Q4 FY24 | Change | Change % |
|---|---|---|---|---|
| Employee cost | 25.45 | 21.27 | +4.18 | +19.7% |
| Finance costs | 67.62 | 42.43 | +25.19 | +59.4% |
| Depreciation | 1.93 | 0.33 | +1.60 | +484.8% |
| Other expenses | 21.77 | 18.35 | +3.42 | +18.6% |
| Total expenses | 133.40 | 83.49 | +49.91 | +59.8% |
| Other income | 3.06 | 0.20 | +2.86 | +1430.0% |
| Tax | 0.56 | 3 | −2.44 | −81.3% |
Source: Company's results filing (XBRL).
How did Muthoot Capital Services do in FY25 as a whole?
For FY25, standalone revenue was ₹471.65 crore, up ₹73.25 crore or 18.4% from ₹398.40 crore in FY24, while total income rose to ₹476.50 crore from ₹401.41 crore. Profit before tax fell ₹103.94 crore or 63.2% to ₹60.40 crore. Net profit declined ₹76.91 crore or 62.7% to ₹45.75 crore, and basic EPS fell to ₹27.81 from ₹74.58.
The FY25 investor presentation reported AUM of ₹3,057.76 crore and disbursements of ₹2,642.09 crore. It also reported FY25 GNPA of 4.88%, down from 10.17%, NNPA of 2.30% against 3.40%, and CRAR of 22.36% against 31.24%. The presentation included ₹95.60 crore of assets derecognised through an ARC transaction in Q2 FY25; no exceptional item was reported for Q4.
| ₹ crore | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue from operations | 471.65 | 398.40 | +18.4% |
| Profit before tax | 60.40 | 164.34 | −63.2% |
| Net profit | 45.75 | 122.66 | −62.7% |
| EPS (₹) | 27.81 | 74.58 | −62.7% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets increased to ₹3,584.50 crore on 31 March 2025 from ₹2,847.52 crore on 30 September 2024, while total equity rose to ₹658.06 crore from ₹639.42 crore. Cash was ₹296.91 crore, compared with ₹277.54 crore at the previous balance sheet date. Borrowings were not provided in the supplied balance-sheet figures; the investor presentation reported total borrowings of ₹2,852.57 crore at March 2025 and a debt-equity ratio of 4.34x.
FY25 operating cash flow was negative ₹1,096.50 crore, compared with negative ₹7.09 crore in FY24. Investing cash flow was negative ₹7.65 crore against negative ₹63.08 crore, while financing cash flow was ₹1,220.08 crore against negative ₹250.71 crore. FY24 closing cash was ₹180.99 crore; no FY25 closing cash figure was provided.
| ₹ crore | As of 31 March 2025 | As of 30 September 2024 |
|---|---|---|
| Total assets | 3,584 | 2,848 |
| Total equity | 658.06 | 639.42 |
| Cash and equivalents | 296.91 | 277.54 |
| Inventories | 0 | 0 |
Source: Company's results filing (XBRL).
| ₹ crore | FY25 | FY24 |
|---|---|---|
| Cash from operations | −1,096 | −7.09 |
| Cash from investing | −7.65 | −63.08 |
| Cash from financing | 1,220 | −250.71 |
| Capital expenditure | 0 | 0.90 |
Source: Company's results filing (XBRL).
How has Muthoot Capital Services done over the last 8 quarters?
Revenue rose in each of the last three quarters on a year-on-year basis and reached ₹137.32 crore in Q4 FY25, the highest level in the eight-quarter series. It bottomed at ₹96.11 crore in Q3 FY24 before climbing through ₹97.97 crore, ₹100.00 crore, ₹108.65 crore and ₹125.68 crore in the subsequent quarters.
Net profit reached its highest point at ₹83.21 crore in Q2 FY24 and bottomed at ₹6.42 crore in Q4 FY25. After declining from ₹11.68 crore in Q4 FY24, profit moved to ₹10.80 crore in Q1 FY25 and ₹15.97 crore in Q2 FY25, before falling to ₹12.56 crore in Q3 FY25. EBITDA margin figures were not available for the quarterly trend.
What else did the company announce?
The board approved the audited standalone financial results for the quarter and year ended 31 March 2025 and received an unmodified auditor’s opinion. It recommended no dividend for FY25. The board also approved a variation in the remuneration of Whole-Time Director Tina Suzanne George, subject to shareholders’ approval through a postal ballot.
Muthoot Capital Services appointed Daisy K. J. as Chief Compliance Officer for a five-year term effective 9 June 2025, following a recommendation from the Nomination and Remuneration Committee. The company also filed an investor presentation for Q4 FY25 and FY25. No fund-raising announcement was included in the same-day filings supplied.
What did Muthoot Capital Services' management say?
Management identified elevated FY25 operating expenses, a ₹16 crore impairment spike in Q4 FY25 as the old portfolio seasoned, flat two-wheeler industry demand in May 2025, and the exit from the non-core corporate loan segment as risks. It said the next impairment seasoning was expected in Q3 FY26. CEO Mathews Markose said the company had met its annual disbursement, AUM-growth and NPA-reduction deliverables; the filing records no analyst questions or responses.
How did Muthoot Capital Services shares react?
After the filing appeared after market hours, the stock was up 3.0% after 5 minutes, 2.9% after 15 minutes and 3.6% after 30 minutes. It closed 7.3% below its pre-results close on the reaction day. By the next day’s close, it was down 5.2% from that pre-results close, and by the fifth session it was down 3.5%; the one-month move was up 1.1%.
The NBFC industry median was unchanged on the reaction day and rose 0.3% by the next close and 0.2% by the fifth session. Muthoot Capital Services therefore underperformed the industry by 7.3 percentage points on the reaction day, 5.5 percentage points by the next close and 3.7 percentage points by the fifth session. Earlier reaction-day moves were -2.7% on 4 February 2025, 6.8% on 29 October 2024, -9.5% on 7 August 2024 and -3.8% on 23 May 2024.
| After the filing | Stock | Non Banking Financial Company (NBFC) median |
|---|---|---|
| 5 minutes | +3.0% | |
| 15 minutes | +2.9% | |
| 30 minutes | +3.6% | |
| Reaction day | −7.3% | +0.0% |
| Next day | −5.2% | +0.3% |
| 5 days | −3.5% | +0.2% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 4 February 2025 | −2.7% |
| 29 October 2024 | +6.8% |
| 7 August 2024 | −9.5% |
| 23 May 2024 | −3.8% |
Source: MarketPing price-reaction measurement.
How did other Non Banking Financial Company (NBFC) companies do?
Among 217 other NBFC companies compared for the quarter, the median revenue growth was 5.6%. Of the other companies, 159 grew revenue more slowly than Muthoot Capital Services, while 58 grew faster. Muthoot Capital Services reported revenue growth of 40.2% in Q4 FY25.
Of 250 peers whose profit was compared, 113 reported higher profit. The peer comparison is as of 6 November 2026 and covers other NBFC companies that had filed for the quarter.
| Muthoot Capital Services revenue growth (YoY) | +40.2% |
|---|---|
| Median of 217 other Non Banking Financial Company (NBFC) companies | +5.6% |
| Companies with slower revenue growth than Muthoot Capital Services | 159 of 217 |
| Companies with faster revenue growth than Muthoot Capital Services | 58 of 217 |
| Companies whose net profit rose | 113 of 250 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Muthoot Capital Services' revenue in Q4 FY25?
Revenue from operations was ₹137.32 crore, up 40.2% from ₹97.97 crore in Q4 FY24 (standalone).
Did Muthoot Capital Services make a profit in Q4 FY25?
Yes. Net profit was ₹6.42 crore, against a net profit of ₹11.68 crore in Q4 FY24.
What was Muthoot Capital Services' EPS in Q4 FY25?
Basic earnings per share were ₹3.90, against ₹7.10 in Q4 FY24.
How did Muthoot Capital Services shares react to the Q4 FY25 results?
On the reaction day the stock moved −7.3% from the previous close; the median Non Banking Financial Company (NBFC) stock moved +0.0%.
When did Muthoot Capital Services announce its Q4 FY25 results?
On 14 May 2025, in a filing to the NSE.
Sources
- Board Meeting Intimation for Consideration And Approval Of Audited Financial Results For The Quarter And Financial Year Ended March 31, 2025 And Recommendation Of Dividend, If Any, For The Financial Year Ended March 31, 2025 (BSE, 6 May 2025) · PDF
- Outcome of Board Meeting (NSE, 14 May 2025) · PDF
- Outcome of Board Meeting (NSE, 15 May 2025) · PDF
- The earnings call (19 May 2025)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
This is information, not investment advice. MarketPing does not recommend buying or selling any security.