Muthoot Microfin Ltd has reported a 95% decline in net profit to Rs 6 crore for the first quarter ended June 2025, mainly due to a surge in bad loans.
In contrast, the non-banking financial company-micro finance institution had earned a profit of Rs 113 crore a year ago.
Its total income also declined to Rs 559 crore during the quarter from Rs 664 crore in the year-ago period.
The total expenses increased to Rs 553 crore against Rs 517 crore in the same quarter a year ago.
The gross non-performing assets more than doubled to 4.85% compared to 2.10% a year ago, Muthoot Microfin said in a statement on Tuesday.
Similarly, its net NPA net of Stage III provision also jumped to 1.58% from 0.71% in the first quarter of the preceding fiscal.
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