Muthoot Finance Q2 Results: Profit rises 20.6% to ₹1,321 crore, revenue up 37%

Gold Financier Muthoot finance announced its results for the quarter ending September 2024 on Thursday, November 14.

The Company's consolidated net profit came in at ₹1321 crore in Q1FY25, up 20.6 percent as against ₹1095 crore in the same period last year. Meanwhile, it total revenue from operations increased almost 37 percent to ₹4929 crore versus ₹3606 crore in the year-ago period.

Net interest income (NII) rose 35.5 percent to ₹2,518.1 crore from ₹1,858.4 crore year-over-year.

For the first half of the financial year 2024-35 (H1FY25), the company's net profit climbed 17.6 percent to ₹2,517 crore from ₹2,140 crore in H1FY24. Whereas, its revenue from operations rose 33 percent to ₹9,402.6 crore as compared to ₹7,077.8 crore from the same period last year.

Muthoot Finance's board has approved an additional equity infusion of ₹500 crore into its wholly-owned subsidiary, Muthoot Money Ltd.

The NBFC stock ended 1.5 percent higher at ₹1,800 on Thursday, November 14.