Gold loan major Muthoot Finance announced its financial results for the quarter ending September 2024, reporting a substantial 20.6% rise in consolidated net profit, which reached ₹1,321 crore. This is up from ₹1,095 crore during the same quarter last year. Total revenue from operations also surged, increasing nearly 37% to ₹4,929 crore compared to ₹3,606 crore in Q2 of the previous fiscal.
Net Interest Income (NII) saw significant growth as well, climbing 35.5% year-over-year to ₹2,518.1 crore from ₹1,858.4 crore. For the first half of FY25, Muthoot Finance recorded a net profit of ₹2,517 crore, marking a 17.6% increase over ₹2,140 crore in the same period last year. Its revenue from operations for H1FY25 reached ₹9,402.6 crore, up 33% from ₹7,077.8 crore in H1FY24.
In line with its growth strategy, Muthoot Finance’s board has approved an additional ₹500 crore equity infusion into its wholly-owned subsidiary, Muthoot Money Ltd., to support expansion and strengthen its financial services portfolio.
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