Muthoot Finance Q1 Results: Profit Surges 73%

Muthoot Finance Ltd. reported a robust 73% rise in consolidated net profit in the first quarter of the current financial year.

The company reported a bottom line of Rs 2,016 crore against Rs 1,164 crore in the year-ago period, according to an exchange filing on Wednesday.

• Net interest income up 43% to Rs 3,933 crore versus Rs 2,754 crore.

• Net profit up 73.2% to Rs 2,016 crore versus Rs 1,164 crore.

• Impairment down 11.7% to Rs 331 crore versus Rs 375 crore.

Shares of Muthoot Finance closed 0.92% lower at Rs 2,533.2 apiece on the National Stock Exchange before the announcement, compared to a 0.54% advance in the benchmark Nifty.

Out of 25 analysts tracking the company, 14 maintain a 'buy' rating, seven recommend a 'hold,' and four suggest 'sell,' according to Bloomberg data. The average 12-month consensus price target implies an upside of 1.7%