Muthoot Finance posts 66% jump in Q3 standalone net

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Published: February 15, 2020 8:51:26 AM

Muthoot’s consolidated net profit for the first three quarters of FY20 stood at Rs 2,321 crore, against Rs 1,554 crore last year.

muthoot finance, nbfcThe finance company, which also operates home loan, microfinance and insurance broking subsidiaries, said consolidated profit for the quarter ended December 31, 2019 stood at Rs 849.2 crore, as against Rs 521.8 crore, an increase of 63%.

NBFC Muthoot Finance on Friday reported a 66% year-on-year increase in its standalone net profit for the third quarter to Rs 803 crore. The gold loan company had reported a standalone net profit of Rs 485 crore in the year-ago period. Sequentially, the standalone net profit is seen lower by 6% (Rs 858 crore) reported in the second quarter of the current fiscal.

The finance company, which also operates home loan, microfinance and insurance broking subsidiaries, said consolidated profit for the quarter ended December 31, 2019 stood at Rs 849.2 crore, as against Rs 521.8 crore, an increase of 63%.

The Kerala-based lender reported a consolidated loan assets under management for the nine month of current fiscal at Rs 43,436 crore, against Rs 35,939 crore in the year-ago period, an increase of 21%.

Muthoot’s consolidated net profit for the first three quarters of FY20 stood at Rs 2,321 crore, against Rs 1,554 crore last year.

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