April 24, 2024

The non-bank finance lender made a weak debut on the bourses in December final 12 months, itemizing at a 5.5 p.c low cost to challenge worth of Rs 291.

Shares of Muthoot Microfin soared over 7 p.c within the opening commerce on January 30, a day after the corporate posted a pointy surge in internet revenue for the December quarter.

The lender’s internet revenue for the October-December interval greater than doubled to Rs 124.60 crore from the year-ago interval.

Story continues under Commercial

Web curiosity revenue (NII) surged 53.07 p.c to Rs 343.07 crore and complete revenue jumped  52.61 p.c to Rs 584.83 crore.

At 9.32 am, Muthoot Microfin was buying and selling at Rs 247.15 on the NSE.

Comply with our market weblog to catch all of the stay motion

Disbursements within the quarter additionally grew over 19 p.c on 12 months to Rs 2,592.10 crore and belongings beneath administration have been up almost 39 p.c to Rs 11,458.10 crore.

“The improved NPA (non-performing belongings) figures (NNPA of 0.33 p.c) underscore our dedication to sustaining a wholesome mortgage portfolio. All the important thing indicators are exhibiting great development and the macro-economic outlook of the nation is beneficial to the trade for us to maintain this development price,” Sadaf Sayeed, CEO, Muthoot Microfin, mentioned in a press launch.

The non-bank finance lender made a weak debut on the bourses in December, itemizing at a 5.5 p.c low cost to challenge worth of Rs 291. The shares have largely remained rangebound, buying and selling close to the itemizing worth.

Story continues under Commercial

Disclaimer: The views and funding ideas expressed by funding consultants on Moneycontrol.com are their very own and never these of the web site or its administration. Moneycontrol.com advises customers to verify with licensed consultants earlier than taking any funding choices.