Finance and insurance corporation Muthoot Finance Ltd. on Wednesday received approval from the Reserve Bank of India to open 115 branches in the country, as per a disclosure to the exchanges.
The regulator further asked the company to ensure suitable arrangements for security and for storage of gold jewellery including safe deposit vaults to whatever extent applicable.
Muthoot Finance Q3FY25 Highlights (Standalone, YoY)
Revenue down 35.3% at Rs 1,363 crore versus Rs 1,027 crore.
NII up 42.8% to Rs 2,722 crore versus a net loss of Rs 1,906 crore.
Also Read: Muthoot Gets 'Outperform' Upgrade, Manappuram Finance Keeps Rating As CLSA Positive On Loan Growth
The firm's standalone net profit during the quarter ended December rose 32.7% to Rs 1,363 crore, compared to Rs 1,027 crore in the year-ago period.
The net interest income—the difference of interest earned and interest expended—for the quarter rose 42.8% to Rs 2,722 crore. This compares to Rs 1,906 crore reported in the corresponding quarter of the previous fiscal.
The bank has reported its highest consolidated loan AUM at Rs 1.11 lakh crore as of Dec. 2024, according to its investor presentation. This is 34% higher than the Rs 82,773 crore reported in the same period last year. Its gold loan AUM in the quarter ended December stood at Rs 92,964 crore, 34% higher than Rs 69,221 crore reported in the same period last year.
Muthoot Finance Share Price Data
The shares of Muthoot Finance ended 0.50% lower at Rs 2,177.55 apiece on the NSE, as compared to a 0.03% decline in the benchmark Nifty 50 index.
The scrip has risen 65.38% in the last 12 months. The relative strength index of the stock is at 51.70.
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