Muthoot Finance soars post Q3 earnings

Q3 net profit up 8% at Rs 270 crore y-o-y, while total operational income grew 11% to Rs 1,365 crore compared to Oct-Dec 2011

Muthoot Finance has moved higher by 6% to Rs 229 after the gold finance company reported a 7.65% year-on-year jump in net profit at Rs 270 crore for the third quarter ended December 31, 2012 (Q3).

“Total income increased by 11% to Rs 1,365 crore as compared with Rs 1,231 crore in the year-ago period,” the company said in a statement.

The stock opened at Rs 216 and hit a high of Rs 232 after the announcement of results on the BSE. A combined 2.1 million shares have changed hands on the counter so far on both the exchanges.