Muthoot Finance, which had closed yesterday at Rs.1000.20, rose 14% to hit a new 52-week high at Rs.1139.75. It has come off the high but remains in the green, trading at Rs.1133 levels currently.

The market is very happy with its Q4FY20 and FY20 performance. The largest gold financing company in India in terms of loan portfolio, registered an increase in net profit of 53%  at Rs.3,018crs for FY20 as against Rs.1,972crs in the previous year. Loan Assets stood at Rs.41,611crs as at March 31, 2020 as against Rs.34,246crs as at March 31, 2019, Y-o-Y growth of 22%. During the quarter, gold loan assets increased by Rs. 3,113crs.

For Q4FY20, it posted a 59% (YoY) rise in net profit at Rs.836 crore. During the quarter, gold loan portfolio of Muthoot Finance increased by Rs.3,113crs to Rs.41,611crs.

George Alexander Muthoot, Managing Director, on this occasion stated, “Company could open majority of its branches since April 20 and as of now all branches are functioning normally. Disbursements and collections have normalized and we are expecting increase in disbursement once movement of people increases and economic activity level picks up. Company continues to maintain adequate liquidity to meet all repayment obligations. We have been able to raise fresh Commercial paper, NCDs, Bank limits etc. We are looking to grow gold loan business by about 15% for the whole year.”