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Last Updated : Nov 14, 2019 10:02 AM IST | Source: Moneycontrol.com

Muthoot Finance share price rallies 8% on stellar Q2 results

Muthoot Finance share price jumped by more than 8 percent in morning trade on Thursday to reclaim Rs 700 levels, a day after it reported a 76.4 percent jump in consolidated net profit at Rs 908.54 crore in Q2.

 
 
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Muthoot Finance share price jumped more than 8 percent in early trade on November 14 reclaiming Rs 700 levels, a day after it reported its Q2 numbers.

Consolidated net profit jumped 76.4 percent to Rs 908.54 crore in the second quarter ended September 2019.

The company's net profit stood at Rs 515.06 crore in the July-September period last year.

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At 0950, AM, Muthoot Finance was trading 8 percent higher at Rs 701.

The total income of the company rose to Rs 2,406.39 crore during the quarter under review from Rs 1,820.88 crore in the same period of 2018-19, Muthoot Finance said in a regulatory filing.

Commenting on the results, the company's chairman M G George Muthoot said, "The consolidated loan assets of the group grew by 13 percent at Rs 40,390 crore during the first half of 2019-20 as against last year of Rs 35,835 crore."

The consolidated profit increased 42 percent to Rs 1,472 crore during the first half of this fiscal from Rs 1,033 crore in the year-ago period, he said.

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First Published on Nov 14, 2019 10:02 am
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