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Muthoot Finance Q2 Net Profit At Rs 174 Crores; Stock Slips
Muthoot Finance reported a net profit at Rs 174 crores for the quarter ended September, 2015 as against Rs 171 crores in the previous year quarter.
Retail loans registered an increase of Rs 464 crores at 2 per cent during the quarter and Rs 3071 crores at 14 per cent during the last 12 months.
Check the share price details of the company
Commenting on the results M G George Muthoot, Chairman stated "An economy where optimism is yet to become reality, Muthoot Finance could grow its loan portfolio by Rs 464 crores during the quarter and deliver good profits.
The Company has also announced that it is acquiring 100% equity shares of Muthoot Insurance Brokers Private Limited(MIBPL).
Shares of the gold finance company were seen trading at Rs 177, lower by 2.24 per cent on BSE at 9.38 am IST. It touched an intra-day low of Rs 175 dueing the trade.
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