Muthoot Finance Q1FY18 results: NII declines 6.9% sequentially
DSIJ Intelligence / 08 Aug 2017
Muthoot Finance Ltd reported its standalone results for Q1FY18. The company's NII for the quarter declined 6.9% QoQ to Rs 545.5 crore, as against NII of Rs 585.7 crore for the previous quarter.
Muthoot Finance Ltd reported its standalone results for Q1FY18.
The company's NII for the quarter declined 6.9% QoQ to Rs 545.5 crore, as against NII of Rs 585.7 crore for the previous quarter.
The net profit for the quarter jumped 9.1% QoQ to Rs 351.07 crore as compared to Rs 321.77 crore in previous quarter. This was due to significant reduction of 97.3% QoQ in provisions from Rs 243.01 crore to Rs 6.63 crore for Q1FY18.
Muthoot Finance Ltd is an NBFC engaged in providing loan against collateral of gold jewellery. The company operates in two segments: financing and power generation.
The company's stock opened at Rs 480.85 and closed at Rs 479.6 after touching intra-day high of Rs 489.
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