Alok Aggarwal takes up CEO role at Muthoot Homefin indiantelevision.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from indiantelevision.com Daily Mail and Mail on Sunday newspapers.
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.
The company had posted a standalone profit after tax of Rs 815 crore in the year-ago period. For the full year, the standalone net profit rose by 23 per cent to Rs 3,722 crore as against Rs 3,018 crore in FY20. We have seen good business growth during the last year, especially in the second and the third quarters. After the pandemic, there was a lot of demand for gold loans. Everybody wanted to restart their business and wanted quick funding, which is why the demand for gold loans grew, its Managing Director George Alexander Muthoot said. The lender was able to grow its asset under management (AUM) in gold loan segment by 27 per cent in FY21 compared to a growth of 22 per cent in the previous year.
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.