Muthoot Finance Q1 net rises 43% to Rs 492 cr

Muthoot Finance (MFIN) Wednesday registered a rise of 43 per cent in its consolidated net profit at Rs 492 crore in first quarter ended June of the current fiscal.

The company had recorded a net profit of Rs 345 crore in the same quarter of 2017-18.

Total income increased by 19 per cent at Rs 1,633 crore in April-June 2018-19 as against Rs 1,377 crore in the year ago June quarter.

Loan assets stood at Rs 30,997 crore as at June 30, 2018, against Rs 27,857 crore as at end-June 2017, an increase of 11 per cent year-on-year, the company said in a release.

The company has three subsidiaries -- Muthoot Homefin, Belstar Investment and Finance and Muthoot Insurance Brokers.

The Sri Lankan subsidiary Asia Asset Finance Plc, where it holds 60 per cent, increased its loan portfolio to Rs 462 crore against Rs 383 crore, up 21 per cent.

Chairman, M G George Muthoot said the company witnessed a strong growth by the group with consolidated loan assets.

Stock of the company closed 9.41 per cent up at Rs 437.10 on BSE.