Muthoot Finance Q3 results, Net profit surge by 14 percent to Rs 1,027 crore

India’s largest gold loan NBFC’s Muthoot Finance Ltd has reported a 13.9% year-on-year increase in net profit at Rs 1,027 crore for the third quarter ending December 2023.

Muthoot Finance Q3 results, Net profit surge by 14 percent to Rs 1,027 crore

The corresponding quarter of the last fiscal year has reported a net profit of Rs 901.7 crore as per the company filing. Net Interest Income rose to 11.8% coming at Rs 1,905.7 crore against Rs 1,704 crore in the corresponding quarter of FY23. The consolidated loan assets under management grew 27% year-on-year to Rs 82,773 crore for 9M of FY24 as against Rs 65,085 crore last year.

During the third quarter, consolidated loan assets under management increased by Rs 3,280 crore i.e. an increase of 4% quarter-on-quarter. The contribution of subsidiaries increased to 14% from 12% last year. The contribution of subsidiaries in the consolidated profit after tax also increased to 9% from 4% last year.

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The standalone loan assets under management stood at Rs 71,182 crore, up by 23% year-on-year, and standalone profit after tax stood at Rs 2,993 crore for 9M of FY24, up by 16% year-on-year. Right after the results the shares of the company ended at Rs 1,383, up by Rs 15.60, or 1.14% on the BSE.

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