Muthoot Finance Q1 Profit Up 11% to Rs 1,079 Crore - Business News

New Delhi, Aug 13 (PTI) Muthoot Finance on Tuesday reported an 11 per cent rise in net profit to Rs 1,079 crore on a standalone basis for the first quarter ended June 30.

The gold loan financier had earned a net profit of Rs 975 crore in the same period a year ago.

Its total income rose to Rs 3,710 crore during the April-June quarter against Rs 3,026 crore in the year-ago period, Muthoot Finance said in a regulatory filing.

The company's total expenses rose to Rs 2,218 crore from Rs 1,711 crore a year ago, it added.

The loan AUM stood at Rs 84,324 crore in the quarter compared to Rs 67,639 crore in Q1 FY24, registering a growth of 25 per cent.

During the quarter, loan assets increased by Rs 8,497 crore, registering a growth of 11 per cent.

Gold Loan assets increased by Rs 8,043 crore, a rise of 11 per cent.