The net profit stood at Rs 3.77 crore during the nine months ended December 31, 1997.

The company's income from operations grew from 59.26 crore in 1997 to Rs 122.76 crore in 1998.

Announcing the company's annual results, executive director, Dipak Gupta, said, "KMPL's performance, at a time when the passenger car industry is witnessing the beginning of a turnaround, indicates the company's strong fundamentals. With disbursements of over Rs 450 crore in retail financing, the company maintained its market share in a competitive environment."

"Our strategy for growth is two pronged, increasing penetration in existing markets by offering a range of attractive and flexible financing schemes to customers, and expanding our geographical coverage to a larger number of cities across thecountry. We have also taken constructive steps towards developing the used car market, a relatively untapped market, through release of indicative price benchmarks as well as attractive schemes to finance purchase of second hand cars."

KMPL is a joint venture between Kotak Mahindra Finance Ltd (KMFL) (60 per cent) and Ford Credit International Inc (40 per cent), set up with the objective of financing non-ford passenger cars, multi-utility vehicles and two wheelers.