Muthoot Finance shares zoom nearly 18% after Q4 earnings
Shares of Muthoot Finance (MFIN) on Thursday jumped nearly 18 per cent after the company reported a 52.4 per cent jump in consolidated net profit in March 2020 quarter.
The scrip zoomed 17.71 per cent to close at Rs 1,177.30 on the BSE. During the day, it rallied 19.99 per cent to Rs 1,200.20 — its 52-week high.
On the NSE, shares of the company jumped 16.07 per cent to settle at Rs 1,160.30 per unit.
The company's market valuation also rose by Rs 7,103.12 crore to Rs 47,214.12 crore on the BSE.
In terms of volume, 8.60 lakh shares were traded on the BSE and 1.80 crore on the NSE.
MFIN on Wednesday reported a 52.4 per cent jump in consolidated net profit at Rs 835.78 crore in March 2020 quarter due to higher demand for gold loans.
The company had posted a net profit of Rs 548.56 crore during the corresponding January-March quarter of fiscal ended March 2019.
Performance for the last year has been good for the company because of strong performance of the gold loan business, it said.
MFIN's total income during March quarter of FY20 rose to Rs 2,633.58 crore from Rs 2,088.84 crore in the year-ago period, it said in a regulatory filing.
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