Muthoot Finance posts 14 pc jump in net profit during FY'19

Muthoot Finance Friday posted a 14 per cent increase in consolidated profit at Rs 2,103 crore for the fiscal ended March 2019.

The company had posted a profit of Rs 1,844 crore in 2017-18.

Muthoot Finance consolidated loan assets under management achieved an year-on-year increase of 20 per cent at Rs 38,304 crore as against last year's Rs 31,921 crore, the group said in a statement.

On standalone basis, Muthoot Finance (MFIN), the largest gold financing company in India in terms of loan portfolio, registered an11 per cent increase in net profit at Rs 1,972 crore for 2018-19 as against Rs 1,778 crore in the previous year.

Loan assets stood at Rs 34,246 crore as of March 31, 2019 as against Rs 29,142 crore as of March 31, 2018, registering a growth of 18 per cent.

Shares of Muthoot Finance closed at Rs 546.85 apiece on BSE, down 4.64 per cent over Friday close.