Muthoot Finance net profit rises by 88%

KOCHI: Muthoot Finance, leading player in the gold loan sector in the country, has registered an 88 % increase in net profit to Rs 215 crore for the quarter ended September 30, 2011.

Total income of the company stood at Rs 1105 crore for the second quarter, an increase of 109 %. The gold loan outstanding of the company stood at Rs 20766 crore. The company had 3274 branches in the second quarter as compared to 2038 branches during the second quarter of the previous fiscal.