Muthoot Finance Shines with 87% Profit Surge

Muthoot Finance reported an 87% increase in net profit, reaching Rs 2,345 crore for Q2 ending September 2024. Total income rose to Rs 6,461 crore from Rs 4,126 crore a year ago. The gold loan AUM grew by Rs 11,723 crore, marking a 10% growth.

Muthoot Finance, a prominent gold loan financier, announced a significant 87% surge in net profit, totaling Rs 2,345 crore for the second quarter ending September 2024.

The company witnessed a remarkable increase from the Rs 1,251.1 crore net profit it posted in the corresponding quarter of the previous fiscal. Concurrently, Muthoot Finance's total income rose sharply to Rs 6,461 crore, compared to Rs 4,126 crore in the same period last year, according to a recent regulatory filing.

Interest income for the quarter saw an ascent to Rs 6,304 crore from Rs 4,068 crore, while expenses reached Rs 3,309 crore, up from Rs 2,418 crore a year earlier. Additionally, Muthoot Finance's gold loan assets under management (AUM) increased by Rs 11,723 crore, showing a 10% growth during Q2 of FY26.

(With inputs from agencies.)