 "Muthoot Finance Q2 results: Consolidated net profit up 21% at Rs 1,321 cr")
Gold loan major Muthoot Finance Ltd’s consolidated net profit for the second quarter ended September 2024 (Q2 FY25) rose by 21 per cent year-on-year (Y-o-Y) to Rs 1,321 crore, compared to Rs 1,095 crore in Q2 FY24.
The consolidated income from operations increased by 36.7 per cent Y-o-Y to Rs 4,928.8 crore. The finance cost rose 35.35 per cent Y-o-Y to Rs 1,807 crore, according to a filing with the Bombay Stock Exchange (BSE). Its stock closed flat at Rs 1,777.7 per share on the BSE.
Impairment on financial instruments grew sharply to Rs 420 crore in Q2 FY25 from Rs 81.14 crore in Q2 FY24.
The company’s consolidated loan assets under management (AUM) grew 31 per cent Y-o-Y to Rs 1.04 trillion in September 2024, compared to Rs 79,493 crore a year ago. Of this, the gold loan portfolio expanded by 28 per cent Y-o-Y to Rs 86,164 crore.
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