Muthoot Finance Rises The Most In Five Months After Reporting Sequential Growth In Net Profit In Q2
Shares of Muthoot Finance Ltd. rose nearly 7% in intraday trade, the most in over five months, to Rs 1,636.85 apiece after the company reported sequential growth in interest income and net profit in the September quarter, post market hours Thursday.
Muthoot Finance (Consolidated, QoQ)
Interest income up 2.9% at Rs 3,003.3 crore
Profit after tax up 2.5% at Rs 1,002.9 crore
Gross loans under management up 5% at Rs 55,146.8 crore
Earnings per share at Rs 24.98 versus Rs 24.37
Of the 20 analysts tracking the company, 15 maintained ‘buy’, three maintained ‘hold’ and two maintained ‘sell’ recommendations. The overall consensus price of analysts tracked by Bloomberg implied an upside of 9%.
Trading volume on the stock was 5.7 times the 30-day average volume for this time of the day.
