Muthoot Finance climbs 7% on upbeat Q1 numbers

NEW DELHI: Shares of Muthoot Finance climbed nearly 7 per cent to hit an all-time high in Friday’s trade after the company said its June quarter net profit grew 48 per cent YoY to Rs 270 crore. The company had reported a net profit of Rs 183 crore for the same quarter last year.
Asset under management (AUM) of the NBFC firm jumped 6 per cent to Rs 25,860 crore at the end of June, compared with Rs 24,409 crore in the year-ago quarter, the company said post market hours of Thursday.

Following the results, the stock surged 6.7 per cent to hit a record high Rs 340 on BSE.

“During the quarter, we could reduce the auctions drastically, which is a in the right direction. We feel with economic activities expected to pick up on account of good monsoon, the growth momentum should continue,” said Muthoot Finance Chairman M G George Muthoot.

Here are business highlights for the quarter: