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  1. Muthoot Finance Q2 results: Net profit rises 26%, revenue jumps 35%

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Muthoot Finance Q2 results: Net profit rises 26%, revenue jumps 35%

Abha Raverkar

1 min read | Updated on November 14, 2024, 22:24 IST

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SUMMARY

NBFC Muthoot Finance posted a 26% year-on-year rise in its net profit to ₹1,251 crore in Q2 FY25. The company also revealed that its board of directors had given the green light to infuse additional equity worth ₹500 crore into the company.

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The company’s board approved infusing additional equity of ₹500 crore in its wholly-owned subsidiary Muthoot Money Ltd

The company’s board approved infusing additional equity of ₹500 crore in its wholly-owned subsidiary Muthoot Money Ltd

Muthoot Finance on Thursday recorded a 26% rise in net profit at ₹1,251 crore in the quarter ended September of the financial year 2024 as compared to ₹991 crore in the same period last year.

This comes on the back of a 34.57% growth in the company’s total revenue from operations, which jumped from ₹3,059.67 crore in the second quarter of last fiscal to ₹4,117.4 crore in the current quarter.

The company’s board approved infusing additional equity of ₹500 crore in its wholly-owned subsidiary Muthoot Money Ltd.

The non-banking financial company recorded the highest profit after tax in the first half of this fiscal at ₹2,330 crore, up 18% year-on-year. The company’s loan assets under management (AUM) rose 31% to ₹1.04 lakh crore in H1 FY’25 from ₹79,493 crore in the year-ago period.

Operating predominantly in southern India, Muthoot Finance is an NBFC that is engaged in the business of providing gold loans.

Shares of Muthoot Finance closed in the green at ₹1,790, up 1.11% on the NSE on November 14.

According to the NSE, the NBFC had a market cap of ₹71,862.04 crore as of November 14.

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About The Author

Abha Raverkar
Abha Raverkar is a post-graduate in economics from Christ University, Bengaluru. She has a strong interest in the markets and loves to unravel the nitty-gritties of the latest happenings in the world of markets, business, and economy.

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