BQ Blue's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BloombergQuint's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Motilal Oswal Report
Muthoot Finance Ltd.'s profit after tax grew 22% YoY to Rs 10 billion in Q4 FY21, in line with our estimate.
Strong loan growth, despite falling gold prices, was the key surprise in Q4 FY21.
The company delivered 26% gold loan growth in FY21.
Net interest income/pre-provision operating profit/profit after tax growth was also healthy at 15%/23%/23%.
On account of the strong performance, we upgrade our FY22E/FY23E earnings per share estimate by 3-4%.
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