Muthoot Finance reported an 11% rise in net profit to Rs 1,079 crore in Q1 FY24, driven by growth in loan assets. Read more about the company's financial performance.
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.
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