Muthoot Finance shares soared to their 10% upper circuit after the company reported robust Q1 results. The financial giant posted a remarkable 73.2% year-on-year jump in consolidated net profit, reaching Rs 2,016 crore compared to Rs 1,164 crore in the same quarter last year.
The company’s impairment charges fell by 11.7%, coming down to Rs 331 crore from Rs 375 crore, reflecting improved asset quality. Net Interest Income (NII), a key metric for lenders, rose sharply by 43% to Rs 3,933 crore versus Rs 2,754 crore in Q1 last year, signaling strong operational growth.
Muthoot Finance shares witnessed a notable surge in trading today, reflecting positive investor sentiment. The stock opened at ₹2,730 and saw its intraday low at ₹2,671.30, while hitting a high of ₹2,760.80. The previous close for Muthoot Finance stood at ₹2,509.90.
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