Muthoot Finance share price rallies 8% on stellar Q2 results
Muthoot Finance share price jumped more than 8 percent in early trade on November 14 reclaiming Rs 700 levels, a day after it reported its Q2 numbers.
Consolidated net profit jumped 76.4 percent to Rs 908.54 crore in the second quarter ended September 2019.
The company’s net profit stood at Rs 515.06 crore in the July-September period last year.
At 0950, AM, Muthoot Finance was trading 8 percent higher at Rs 701.
The total income of the company rose to Rs 2,406.39 crore during the quarter under review from Rs 1,820.88 crore in the same period of 2018-19, Muthoot Finance said in a regulatory filing.
Commenting on the results, the company’s chairman M G George Muthoot said, “The consolidated loan assets of the group grew by 13 percent at Rs 40,390 crore during the first half of 2019-20 as against last year of Rs 35,835 crore.”
The consolidated profit increased 42 percent to Rs 1,472 crore during the first half of this fiscal from Rs 1,033 crore in the year-ago period, he said.Get access to India’s fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code “GETPRO”. Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.