Representational photograph
| Photo Credit: REUTERS
Muthoot Finance Ltd. reported first quarter consolidated net profit rose 27% year-on-year to ₹1,045 crore. Standalone net profit elevated 22% to ₹975 crore. Consolidated mortgage AUM elevated 21% to ₹76,799 crore. During the quarter, the corporate reported highest ever quarterly gold mortgage disbursement at ₹53,612 crore. It additionally reported an all-time excessive curiosity assortment in any Q1 at ₹2,863 crore.
George Jacob Muthoot, Chairman, The Muthoot Group stated, “Our subsidiaries Muthoot Homefin and Belstar Microfinance continue to report strong disbursements and as a result, the contribution of our subsidiaries to the overall consolidated loan AUM has increased to 12%.”
