Muthoot Capital Services Share Price Falls 1.3% Amid Board Faces 3 Directors Resignations

Non-bank lender Muthoot Capital Services has announced the resignation of three key members from its board of directors, effective December 23, 2024. The company accepted the resignation letters of Thomas George Muthoot, Managing Director, Thomas John Muthoot, Non-Executive Chairman, and Thomas Muthoot, Non-Executive Director.

On December 24, 2024, Muthoot Capital Services share price plunged 1.33%, trading at ₹328.05 on the Bombay Stock Exchange (BSE) at 9:48 AM (IST). According to BSE data, the stock recorded a total traded volume of 171 shares, with a turnover of ₹0.58 lakh.

New Appointments at Muthoot Capital

Following the resignations, Muthoot Capital has appointed Tina Suzanne George as the new Executive Director for a five-year term, subject to member approval. Tina, a qualified Chartered Accountant, brings a wealth of experience in audit, tax, and compliance through her roles at Deloitte and Ernst & Young.

Additionally, Ritu Elizabeth George and Dr. Susan John have been appointed as Additional Non-Executive Directors. Ritu, an expert in HR leadership, employee engagement, and risk analysis, previously worked with firms like KPMG, Hilton, and Novotel. Dr. Susan John, an accomplished oncologist, has contributed to medical research, particularly in lung radiotherapy and cardiotoxicity, during her time at The Royal Marsden NHS Trust and UHCW.

About Muthoot Capital

Established in 1994, Muthoot Capital Services Ltd offers fund-based financial services to retail, corporate, and institutional customers, both directly and through the extensive branch network of Muthoot Fincorp Ltd.

For the second quarter of fiscal 2025, Muthoot Capital reported a net profit of ₹16 crore. The company’s total assets under management (AUM) stood at ₹2,381 crore at the end of the quarter, marking a 9% increase from the previous quarter’s AUM of ₹1,767.15 crore in Q2 FY24. The company also achieved a total income of ₹109.79 crore for the quarter and disbursed loans worth ₹643.50 crore.

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