1. Muthoot Finance hits new 52-week high on 61% rise in Q4 net profit

Muthoot Finance hits new 52-week high on 61% rise in Q4 net profit

Muthoot Finance shares hit their new 52-week high of Rs 238.85 on Monday after the company on Friday reported 60.56 per cent rise in net profit figures at Rs 265.22 crore for the quarter ended March 31, 2016.

By: | New Delhi | Updated: May 30, 2016 4:26 PM
sensex, stocks market, muthoot finance bse nse Muthoot Finance shares hit their new 52-week high of Rs 238.85 on Monday after the company on Friday reported 60.56 per cent rise in net profit figures at Rs 265.22 crore for the quarter ended March 31, 2016. (Reuters)

Muthoot Finance shares hit their new 52-week high of Rs 238.85 on Monday after the company on Friday reported 60.56 per cent rise in net profit figures at Rs 265.22 crore for the quarter ended March 31, 2016. It had posted a net profit of Rs 165.19 crore in the corresponding quarter a year.

The share price of the company closed 8.72 per cent up at Rs 233.82. The scrip opened the day at Rs 229.80 and touched a high of Rs 238.85 and low of Rs 227.05, respectively, in trade. Sensex closed 72 points, or 0.27 per cent, up at 26,725.60.

The gold finance company reported 31.46 per cent year-on-year rise in net sales at Rs 1,429.06 crore in the quarter under review.

For the full year, net profit of Muthoot Finance increased by 21 per cent to Rs 810 crore, the Kochi-based company said in a statement, adding its loan disbursals rose a tepid 4 per cent at Rs 970 crore during the year, taking the overall assets under management (AUMs) to Rs 24,379 crore, while its income rose to Rs 4,875 crore.

The company also announced that it has acquired 13.93 per cent of equity share capital of Belstar Investment and Finance Private Limited (BIFPL) in May 2016 and has entered into binding agreement to acquire another 5.57 per cent cumulatively 19.50 per cent. BIFPL is an NBFC engaged in the business of micro finance based out Chennai.Muthoot Finance is also planning to acquire additional 11.14 per cent subject to regulatory approvals in this regard.

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