Muthoot Finance gains 6% post Q1 results

The stock was up 6% at Rs 424 on the BSE after the company reported a 43% year on year growth in net profit at Rs 4.92 billion in Q1FY19.

Muthoot Finance was trading higher by 6% at Rs 424 on the BSE at 09:44 am in otherwise weak market after the company reported a 43% year on year growth in net profit at Rs 4.92 billion during the quarter ended June 30, 2018 (Q1FY19). The non-banking finance company had a profit of Rs 3.45 billion during the same quarter of previous year.

Net interest income (interest income minus interest expense) grew 31% to Rs 11.03 billion from Rs 8.44 billion in the year ago quarter. Net interest margin improved to 14.68% in Q1FY19 against 12.24% in previous year