Muthoot Finance share price hit a fresh 52-week high in afternoon trade today after the gold financing firm reported a 66 per cent rise in its consolidated net profit to Rs 803 crore for the third quarter ended December compared to Rs 485 crore in the corresponding period of 2018-19. Share price of Muthoot Finance rose up to 17% to Rs 873.75 compared to the previous close of Rs 746.60 on BSE.
Market capitalisation of the firm rose to Rs 34,830 crore.The stock has gained 67.41% during the last one year and gained 13.88% since the beginning of this year.
The firm reported a 35% rise in total income to Rs 2,313 crore during the reported quarter of 2019-20 from Rs 1,717 crore in the year-ago period.
Its loan portfolio registered a 50 per cent increase in net profit to Rs 2,191 crore for the nine months of FY20 as against Rs 1,461 crore in the previous year. Loan assets rose to Rs 38,498 crore as on December 31, 2019 compared to Rs 32,470 crore as on December 31, 2018, a growth of 19 per cent. During the quarter, gold loan assets increased by Rs 2,783 crore.