Muthoot Finance Q3 profit up 21%

Muthoot Finance, India's largest gold financing company, on Thursday reported a 21 per cent rise in net profit for the quarter ended December, partly aided by its Sri Lankan subsidiary Asia Asset Finance.

Net profit rose to Rs 187 crore, from Rs 154 crore in the corresponding quarter in FY15. Retail loans grew seven per cent year-on-year to Rs 117 crore.

Net profit of the Sri Lankan subsidiary rose 54 per cent to 12.1 lakh Sri Lankan rupees. For the whole company, gold loans outstanding was at Rs 24,941 crore, up 13 per cent from the year-ago quarter.

Total weight of gold jewellery pledged was at 145 tonnes, up 18 per cent.