Muthoot Finance Ltd. reported standalone net profit rose 11% to ₹994 crore in the quarter ended September, compared with a year earlier.
“Loan assets stood at ₹55,147 crore compared to ₹47,016 crore in the same period last year, registering a growth of 17% YoY. Gold loan assets increased 5% to ₹2,613 crore,” the firm said. “We were able to maintain growth momentum... with all of our branches now open for business,” said George Jacob Muthoot, Chairman, Muthoot Group.
“The demand environment remains strong and as we enter the festive season we remain optimistic about growth momentum in gold loan over the second half of FY22. We are optimistic about growing our gold loan book further and maintain 15% growth guidance for FY22,” said MD George Alexander Muthoot.
“We are witnessing improved collections across micro finance, vehicle finance and home loans,” Mr. Muthoot added.
