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Note ban impact behind us, on track to 12% growth: Muthoot Finance MD

Muthoot Finance Managing Director George Alexander Muthoot says the company is looking at options beyond gold loans

Muthoot Finance Managing Director George Alexander Muthoot
Muthoot Finance Managing Director George Alexander Muthoot

Muthoot Finance, one of the major gold loan non-banking finance companies (NBFCs) in the country, has announced a 59 per cent growth in net profit for the quarter ended December 31, 2017, at Rs 4.64 billion (Rs 464 crore), compared to Rs 2.91 billion (Rs 291 crore) during the same period in the previous financial year. The total income stood at Rs 15.67 billion (Rs 1,567 crore) compared to Rs 13.46 billion (Rs 1,346 crore) during the same period a year ago. The company is expecting better growth this year for its loan disbursement compared to last year and a recovery to ...