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Muthoot Microfin Shares Jump 14% After Profit More Then Doubles In Q3

The recently listed company's net profit surged 119.4% year-on-year to Rs 124.6 crore in the quarter ended December, according to an exchange filing.

<div class="paragraphs"><p>Muthoot Microfin office (Source: company website)</p></div>
Muthoot Microfin office (Source: company website)

Shares of Muthoot Microfin Ltd. surged over 14% on Tuesday after its net profit jumped more than double in the third quarter.

The recently listed company's net profit surged 119.4% year-on-year to Rs 124.6 crore in the quarter ended December, according to an exchange filing.

Disbursements in the quarter also rose over 19% to Rs 2,592.1 crore and the assets under management were up nearly 39% to Rs 11,458.10 crore.

Muthoot Microfin Q3 FY24 Highlights (YoY)

  • NII up 53.1% at Rs 343.1 crore vs Rs 224.1 crore.

  • Net profit up 119.4% at Rs 124.6 crore.

Muthoot Microfin Shares Jump 14% After Profit More Then Doubles In Q3

Shares of the company soared 14.11%, the highest since Dec. 27, 2023, before paring gains to trade 10.76% higher at 10:24 a.m. This compares to a 0.06% advance in the NSE Nifty 50.

The stock has fallen 2.71% in the last one month. Total traded volume so far in the day stood at 8.1 times its 30-day average. The relative strength index was at 58.

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