Muthoot Finance Surges: A Golden Quarter for Profits

Muthoot Finance shares soared nearly 10% after announcing a 65% year-on-year increase in consolidated profit after tax for the June quarter. The company's strong financial performance, with a total income increase of 44% and a rise in loan assets under management by 37%, fueled the stock's growth.

Muthoot Finance experienced a robust increase in its market performance, as its shares rose significantly by nearly 10% following the announcement of a 65% year-on-year rise in consolidated profit after tax for the June quarter.

The stock achieved remarkable growth, surging 9.83% to close at Rs 2,757.55 on the BSE, with intra-day trading reaching a 52-week high of Rs 2,799. Similarly, on the NSE, the stock closed with an impressive 9.86% increase, peaking at Rs 2,800 during intra-day trading.

Highlighting its financial prowess, Muthoot Finance revealed a total income increase of 44% to Rs 6,485 crore for the quarter, compared to Rs 4,492 crore in the same period last year, and a notable 37% year-on-year rise in loan assets under management to Rs 1,33,938 crore.

(With inputs from agencies.)