Muthoot Finance is creating a buzz in the stock market as it announces a significant milestone in its gold loan business. The non-banking financial company, headquartered in Kerala, has revealed that its Assets Under Management (AUM) for gold loans has surpassed an impressive ₹1 lakh crore. This exciting development comes in the wake of a solid performance during the last quarter, where the AUM stood at ₹92,964 crore, marking a year-over-year growth of 34.3% and a quarter-on-quarter increase of 7.9%.

A Strong Testament to Trust

In its official statement, Muthoot Finance attributed this remarkable achievement to the unwavering trust placed in them by lenders, investors, and customers alike. The company highlighted its commitment to delivering sustained value and growth, reflecting its dedication to all stakeholders involved.

George Alexander Muthoot, the Managing Director, emphasized the company’s forward-thinking approach. He stated that Muthoot Finance intends to focus on ongoing growth, customer-centric innovations, and digital advancements to solidify its leadership in the non-banking financial sector.

Impressive Q3 Financial Results

Muthoot Finance recently reported a net profit of ₹1,389 crore for the quarter ending December 31, 2024, which represents a substantial increase of nearly 26% from ₹1,104 crore in the same quarter of the previous fiscal year.

• Operational revenue surged by 36%, reaching ₹5,190 crore compared to ₹3,820 crore from the equivalent quarter in FY24.
• Interest income also saw a significant boost, totaling ₹5,067 crore.

This exceptional financial performance underscores the company’s strong position in the market, further attracting the attention of investors.

Muthoot Finance Share Price Update

In recent trading, Muthoot Finance’s share price experienced a slight dip, closing at ₹2,196.40 on the BSE, down nearly 1%. Despite this, the stock has shown impressive growth of 66.26% from its 52-week low of ₹1,321.

It’s worth noting that the Indian stock market observed a closure on March 14 due to the Holi festival, but investors remain optimistic about the company’s prospects.

Leading in Gold Financing

Muthoot Finance stands as India’s largest player in gold financing, leveraging its extensive loan portfolio. The company specializes in offering personal and business loans secured by gold jewelry. This service is particularly beneficial for individuals who may face challenges in accessing traditional credit options, providing a quick and reliable solution for urgent financial needs.

In conclusion, Muthoot Finance’s recent achievements and robust financial health position it as a key player in the NBFC sector, reaffirming its role as a trusted partner for customers seeking gold-backed financial solutions.