Muthoot Finance Delivers Strong All-Round Q3 Performance: Motilal Oswal
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Motilal Oswal Report
Muthoot Finance Ltd.’s Q3 FY21 profit after tax grew 22% YoY to Rs 9.9 billion, driven by healthy loan growth, stable spreads, and continued cost control.
In nine months FY21, the company delivered 23–24% net interest income/pre-provision operating profit/PAT growth.
While the number of customers and loan accounts had been largely flattish for the past several quarters, a 4–5% sequential uptick was seen in the same.
Likewise, gold tonnage and gold loans grew 2%/7% QoQ. Total assets under management (standalone) stood at Rs 497 billion (up 32% YoY).
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