February 22, 2024

The non-bank finance lender made a weak debut on the bourses in December final yr, itemizing at a 5.5 % low cost to difficulty value of Rs 291.

Shares of Muthoot Microfin soared over 7 % within the opening commerce on January 30, a day after the corporate posted a pointy surge in web revenue for the December quarter.

The lender’s web revenue for the October-December interval greater than doubled to Rs 124.60 crore from the year-ago interval.

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Web curiosity revenue (NII) surged 53.07 % to Rs 343.07 crore and whole revenue jumped  52.61 % to Rs 584.83 crore.

At 9.32 am, Muthoot Microfin was buying and selling at Rs 247.15 on the NSE.

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Disbursements within the quarter additionally grew over 19 % on yr to Rs 2,592.10 crore and belongings underneath administration have been up almost 39 % to Rs 11,458.10 crore.

“The improved NPA (non-performing belongings) figures (NNPA of 0.33 %) underscore our dedication to sustaining a wholesome mortgage portfolio. All the important thing indicators are displaying large progress and the macro-economic outlook of the nation is beneficial to the business for us to maintain this progress price,” Sadaf Sayeed, CEO, Muthoot Microfin, stated in a press launch.

The non-bank finance lender made a weak debut on the bourses in December, itemizing at a 5.5 % low cost to difficulty value of Rs 291. The shares have largely remained rangebound, buying and selling close to the itemizing value.

Story continues under Commercial

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