Reserve Bank of India (RBI) has imposed monetary penalties on Mahindra & Mahindra Financial Services Ltd, Indian Bank, and Muthoot Money Ltd for non-compliance with multiple laws prescribed by the apex bank.
Muthoot Finance posts 16% rise in Q1 net profit at Rs 971 cr thehindubusinessline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thehindubusinessline.com Daily Mail and Mail on Sunday newspapers.
Muthoot Finance posts 22% rise in net profit in Q4 of FY21
June 02, 2021
George Jacob Muthoot, Chairman, Muthoot Finance×
George Jacob Muthoot appointed as the Chairperson of the Board of Directors
Gold loan lender Muthoot Finance Ltd has registered a 22 per cent increase in its net profit in Q4 of FY21 at ₹996 crore against ₹815 crore in the corresponding period of the previous year. The net profit for the whole year went up to ₹3,722 crore against ₹3,018 crore, an increase of 23 per cent.
Gold loan assets up by ₹2304 crore
Loan assets stood at ₹52,622 crore as on March 31, 2021 against ₹41,611 crore as on March 31, 2020, a growth of 26 per cent. During the quarter, gold loan assets increased by ₹2,304 crore.