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Muthoot Finance Q3 net jumps 66 pc to Rs 803 cr

Muthoot Finance Q3 net jumps 66 pc to Rs 803 cr

Muthoot Finance Ltd on Friday reported 66 per cent jump in its consolidated net profit to Rs 803 crore in the third quarter ended December 31. The company's net profit was at Rs 485 crore in the corresponding October-December period of 2018-19.

Total income increased by 35 per cent to Rs 2,313 crore during the reported quarter of 2019-20 from Rs 1,717 crore in the year-ago period, it said in a release. The gold financing company said its loan portfolio registered an increase in net profit of 50 per cent to Rs 2,191 crore for the nine months of FY20 as against Rs 1,461 crore in the previous year.

Loan assets stood at Rs 38,498 crore as on December 31, 2019 compared to Rs 32,470 crore as on December 31, 2018, a growth of 19 per cent. During the quarter, gold loan assets increased by Rs 2,783 crore.

Stock of Muthoot Finance closed at Rs 746.60 on the BSE, up 0.81 per cent from previous close.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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