Muthoot Finance Q1 consolidated net profit rises 27% to ₹1,045 crore
The Hindu
Company reports highest ever quarterly gold loan disbursement at ₹53,612 crore
Muthoot Finance Ltd. reported first quarter consolidated net profit rose 27% year-on-year to ₹1,045 crore. Standalone net profit increased 22% to ₹975 crore. Consolidated loan AUM increased 21% to ₹76,799 crore. During the quarter, the company reported highest ever quarterly gold loan disbursement at ₹53,612 crore. It also reported an all-time high interest collection in any Q1 at ₹2,863 crore.
George Jacob Muthoot, Chairman, The Muthoot Group said, “Our subsidiaries Muthoot Homefin and Belstar Microfinance continue to report strong disbursements and as a result, the contribution of our subsidiaries to the overall consolidated loan AUM has increased to 12%.”
Viatris faces U.S. FDA import alert for products from Indore plant, exceptions made for certain shortages.
xAI’s Grok may soon come to an iOS app as the company announced its Series C funding round of $6 billion.
Biocon and Zentiva receive EU approval for Liraglutide, a complex formulation for diabetes and weight management.
Equity markets fluctuate as Sensex and Nifty rise initially, then fall; global markets and oil prices also discussed.
Microsoft has been working on adding internal and third-party AI models to power Microsoft 365 Copilot.
China's dominance in critical minerals poses supply chain vulnerabilities for India, US, and EU nations, requiring strategic diversification efforts.
India's controversial popcorn tax system sparks outrage and criticism, with opposition questioning the complex GST rates.
ICAI President investigates auditing lapses at Byju's, disciplinary committee probing, details undisclosed, part of ongoing investigations.
Sensex and Nifty rebound sharply after steep decline, driven by value buying, bluechip stocks, and global market rally.
AS-IT-IS Nutrition aims for ₹300 crore GMV in 2025 with ATOM range, endorsed by Ravindra Jadeja.
Adani Group acquires Air Works, India's largest MRO company, expanding its aviation services with a ₹400 crore deal.