The stock surged nearly 7% to Rs 340, also its record high on the BSE in intra-day trade.
It had posted a net profit of Rs 183 crore in April-June 2015
The company's stock closed up 3.19% at Rs 318.65 on BSE
This will enable the company to diversify its investment products, said Muthoot Finance MD
The stock moved higher by 6% to Rs 270 on the BSE, extending its 18% rally in past one week.
The stock rallied 11% to Rs 239 after the company posted 61% YoY jump in profit at Rs 265 crore in Q4FY16.
The study was conducted by TRA Research