Muthoot Finance share worth: Muthoot Finance skids 5% on flattish rise in Q3 revenue, broader market selloff


NEW DELHI – Shares of Muthoot Finance declined consistent with a broad market selloff on Monday, with the inventory shedding 5.2 per cent after the Murugappa Group’s NBFC reported a mere 4 per cent rise in its consolidated web revenue at Rs 1,043.60 crore within the quarter ended December 2021.

The corporate’s web revenue stood at Rs 1,006.60 crore within the corresponding quarter a 12 months in the past.

The scrip dropped to a low of Rs 1,350.10 as in opposition to Rs 1,424.15 on the earlier shut on the Nationwide Inventory Change.

Whole earnings throughout October-December 2021-22 rose by 5 per cent to Rs 3,168.10 crore, as in opposition to Rs 3,016.40 crore in the identical interval of 2020-21, Muthoot Finance mentioned in a regulatory submitting.

Curiosity earnings through the quarter was up by 5 per cent from a 12 months in the past at Rs 3,086.70 crore.

India’s largest gold financing firm, by mortgage portfolio, mentioned rural India accounts for about 65 per cent of whole gold inventory within the nation, and the big portion of the agricultural inhabitants had restricted entry to credit score, PTI reported.

The gross mortgage belongings underneath administration as of December 31, 2021, stood at Rs 54,687.60 crore. Of this, the gold loans underneath administration had been value Rs 54,214.90 crore. The remaining Rs 472.70 crore was comprised of different loans.

The consolidated outcomes of the Muthoot group embody monetary outcomes of subsidiaries — Muthoot Homefin (India), Belstar Microfinance, Muthoot Insurance coverage Brokers, Muthoot Asset Administration Pvt Ltd, Muthoot Trustee Pvt Ltd, Muthoot Cash and Asia Asset Finance PLC, Sri Lanka.

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