Muthoot Finance Q3 net profit rises 22% to ₹1,145 cr.
The Hindu
Muthoot Finance reports a 22.5% rise in net profit and plans to raise funds through debentures.
Muthoot Finance on Wednesday reported a 22.5% rise in consolidated net profit to ₹1,145 crore in the December quarter.
The gold loan company's net profit stood at ₹934 crore in the year-ago period.
Total income during the third quarter of the ongoing fiscal rose to ₹3,843 crore, as against ₹3,030 crore in the year-earlier period, Muthoot Finance said in a regulatory filing.
Interest income during the quarter increased to ₹3,683 crore as compared to ₹3,010 crore a year ago.
Muthoot Finance board also approved raising of funds by issuance of redeemable non-convertible debentures, through public issue, for up to ₹6,000 crore to be issued in one or more tranches.
The board has cleared a proposal for raising of funds by issuance of redeemable non-convertible debentures, through private placement, for an amount of up to ₹10,000 crore to be issued in one or more tranches, it said.
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