Muthoot Finance Q3 net profit up 23.40% at Rs 991.37 cr
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The company reported standalone net profit of Rs 991.37 crore for the quarter ended December 31, 2020 as compared to Rs 803.41 crore in the same period last year, registering a year-on-year growth of 23.40 per cent. Net revenue of the company rose moderately by 19.69 per cent at Rs 2,764.86 crore in October-December quarter of this fiscal as against Rs 2,310.00 crore in the corresponding period last year. During October-December quarter, operating expenses dropped by 8.08 per cent to Rs 485.44 crore from Rs 528.13 crore in year ago period. Other Income grew by 267.09 per cent at Rs 11.60 crore versus (Dec'19 Rs 3.16 crore).
Operating Profit surged by 27.92 per cent to Rs 2,279.42 crore as against Rs 1,781.87 crore in the year ago period, while Operating Profit Margin (OPM) expanded year-on-year to 6.87 per cent in December quarter. Interest grew by 36.29 per cent y-o-y to Rs 945.52 crore, while Taxation increased by 22.81 per cent at Rs 340.06 crore (Dec'19 Rs 276.89 crore).
