Nadja Popovich: Muthoot Finance Q4 profit surges 849%. Muthoot Finance Limited, a financial services provider, today said its Q4 net profit surged 849% to Rs 762.26 crore due to strong net interest income and other income. The Mumbai-based microfinance provider posted a net profit of Rs 23.30 crore for the October-December quarter of last fiscal, it said in a regulatory filing.
Net interest income, the difference between interest earned and interest expended, increased by 84.52% to Rs 3,428.98 crore in the three months to December 2018 from Rs 1,654.55 crore in the same period of the preceding fiscal. Other income increased by 1,419.96% to Rs 512.25 crore, compared to Rs 10.47 crore in the October-December period of 2017-18.
For the fiscal ended March 31, 2018, the total income increased by 11.20% to Rs 11,117.65 crore from Rs 10,243.45 crore during the same period last fiscal.
According to the filing, loan disbursements stood at Rs 15,472.96 crore during the October-December quarter of 2018-19, as against Rs 13,698.05 crore in the same period of 2017-18.
Besides, the revenue from corporate finance segment increased by 3.53% to Rs 191.11 crore during the fourth quarter of 2018-19 from Rs 180.47 crore in the same period of 2017-18.
During the quarter, the net asset value of the company was increased to Rs 181.07 per share from Rs 163.57 per share at end of the third quarter of 2017-18.
Shares of Muthoot Finance Ltd zoomed to an intraday high of Rs 99.35 on the BSE.