Muthoot Finance shares zoom 15 pc after Q4 earnings

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New Delhi, Jun 18 (PTI) Shares of Muthoot Finance (MFIN) on Thursday jumped 15 per cent after the company reported a 52.4 per cent jump in consolidated net profit in the last quarter of the fiscal ended March 2020.

The scrip zoomed 13.58 per cent to Rs 1,136.05 — its 52-week high — on the BSE.

On the NSE, shares of the company gained 14.99 per cent to a one-year high of Rs 1,149.50.

MFIN on Wednesday reported a 52.4 per cent jump in consolidated net profit at Rs 835.78 crore in the last quarter of the fiscal ended March 2020 due to higher demand for gold loans.

The company had posted a net profit of Rs 548.56 crore during the corresponding January-March quarter of fiscal ended March 2019.

Performance for the last year has been good for the company because of strong performance of the gold loan business, it said.

MFIN’s total income during March quarter of FY20 rose to Rs 2,633.58 crore from Rs 2,088.84 crore in the year-ago period, it said in a regulatory filing.

Source:PTI

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