Politics · India Bureau
Muthoot Finance Q2 profit surges 27% as income climbs 37%
Muthoot Finance reported a robust 27 per cent year-on-year growth in standalone profit to ₹2,977 crore for the September quarter, driven by a sharp 37 per cent increase in total income.
LSN India ·
The gold financing major posted standalone profit after tax of ₹2,977 crore in the July-September quarter of fiscal 2026-27, up from ₹2,345 crore in the corresponding period last year, according to a regulatory filing on Saturday.
Total income climbed to ₹8,842 crore in Q2 FY27 from ₹6,442 crore in the year-ago quarter, propelled by interest income rising to ₹8,730 crore from ₹6,304 crore. The company's consolidated loan assets under management expanded 42 per cent to ₹2.09 lakh crore during the April-September period, while consolidated gold loan AUM surged 46 per cent to over ₹1.93 lakh crore.
For the first half of the current fiscal year, consolidated profit after tax grew 39 per cent to ₹6,103 crore, underscoring strong momentum in the company's core lending operations. The expansion reflects sustained demand for secured credit products and favourable market conditions in India's gold loan segment.
Executive Vice Chairman George Alexander Muthoot attributed the performance to India's gold loan market presenting "significant growth opportunities," backed by rising demand for asset-backed credit solutions. The results position Muthoot Finance favourably as it capitalises on growing consumer preference for collateralised borrowing options.