Muthoot Finance share price to be on focus on Monday as Gold Loan AUM surpasses ₹1 Lakh crore amid strong growth | Stock Market News
Source: Live Mint
Muthoot Finance share price is expected to be in the spotlight during Monday’s trading session after the non-bank lender from Kerala announced to the exchanges today (Friday, March 14) that its gold loan business’s Assets Under Management (AUM) has exceeded ₹1 lakh crore. As of the end of the December quarter, the AUM for Muthoot Finance’s gold loan segment was ₹92,964 crore, reflecting a year-on-year growth of 34.3% and a quarter-on-quarter increase of 7.9%.
“This remarkable achievement underscores the trust and confidence of our lenders, investors, customers and all other stakeholders placed in us and reaffirms our commitment to delivering sustained value and growth,” the company said in its exchange filing.
George Alexander Muthoot, the Managing Director, mentioned that as Muthoot Finance moves forward, the emphasis will be on continuous growth, innovations centered around customer needs, and digital advancements that will further enhance their leadership in the NBFC sector.
Q3 Results
Muthoot Finance announced a net profit of ₹1,389 crore for the quarter ending December 31, 2024, on February 12. This represents an increase of nearly 26 percent compared to the ₹1,104 crore net profit from the same quarter of the previous fiscal year.
In the meantime, the company’s operational revenue soared by 36 percent year-on-year, reaching ₹5,190 crore for the reported quarter. Previously, it had posted revenue from operations of ₹3,820 crore during the equivalent quarter of FY24. Additionally, Muthoot Finance’s interest income also saw a notable rise, amounting to ₹5,067 crore.
Muthoot Finance share price
On Thursday’s session, Muthoot Finance share price closed nearly 1% lower at ₹2,196.40 apiece on the BSE. Muthoot Finance share price has gained 66.26% from 52-week low of ₹1,321 per share. The Indian market is closed today, Friday, March 14 on account of Holi.
Muthoot Finance is India’s largest company for gold financing based on its loan portfolio. Based in Kerala, the firm offers personal and business loans backed by gold jewelry, known as Gold Loans, mainly to individuals who own gold jewelry but struggle to obtain formal credit quickly, or who may not have access to credit altogether, to address unforeseen or other short-term cash flow needs.
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