IDBI Capital: Muthoot Finance - Gold Loan Growth Rebounds In Q2; AUM Growth Guidance Maintained 
An advertisement for Muthoot Finance Ltd., is displayed on a wall in a branch in New Delhi, India. Photographer: Anindito Mukherjee/Bloomberg

IDBI Capital: Muthoot Finance - Gold Loan Growth Rebounds In Q2; AUM Growth Guidance Maintained 

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BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

IDBI Capital Report

Muthoot Finance Ltd. reported robust growth in gold asset under management at 32% YoY versus 16% YoY (Q1 FY21); however profitability growth was lower at 4% YoY due to higher tax rate and decline in net interest margins.

Net interest incomeI grew by 10% YoY led by decline in margins; while pre-provision operating profit grew by 13% YoY led by higher other income (up 123% YoY).

Provisions declined as asset quality improved in gold loan portfolio due to interest collection and refinancing at higher gold prices.

Click on the attachment to read the full report:

IDBI Capital Muthoot Finance Q2FY21 Result Update.pdf

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