Muthoot Finance witness an 11% rise in its Q2FY22

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Mumbai: Gold loan company Muthoot Finance on Thursday reported a rise of 11 percent in its Q2FY22 standalone net profit on a year-on-year basis.

It also reported that its loan assets rose to Rs 55,147 crore as compared to Rs. 47,016 crore in Q2FY21, registering a growth of 17 percent on a YoY basis.

Notably, during the quarter, gold loan assets increased by Rs 2,613 crore, which represents an increase of 5 percent.

The company’s consolidated loan AUM stood at Rs 60,919 crore as of the end of September 2021, clocking a growth of 17 percent on a YOY basis.

Muthoot Finance Managing Director George Alexander Muthoot said: “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 maintaining 15 percent growth guidance for FY22”

Source: IANS