Muthoot Finance's net profit surged 22.5% to Rs 1,145 crore in Q3 FY23, driven by strong gold loan demand. Total income also rose significantly.
New Delhi, Feb 14 (PTI) Muthoot Finance on Wednesday reported a 22.5 per cent rise in consolidated net profit to Rs 1,145 crore in the December quarter.
The gold loan company's net profit stood at Rs 934 crore in the year-ago period.
Total income during the third quarter of the ongoing fiscal rose to Rs 3,843 crore, as against Rs 3,030 crore in the same period of 2020-21, Muthoot Finance said in a regulatory filing.
Interest income during the quarter increased to Rs 3,683 crore as compared to Rs 3,010 crore a year ago.
Muthoot Finance board also approved raising of funds by issuance of redeemable non-convertible debentures, through public issue, for up to Rs 6,000 crore to be issued in one or more tranches.
The board has cleared a proposal for raising of funds by issuance of redeemable non-convertible debentures, through private placement, for an amount of up to Rs 10,000 crore to be issued in one or more tranches, it said.
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