Muthoot Finance share price hit all-time high in early trade today after the gold financing company reported a 59% growth in Q4 profit. Share price of Muthoot Finance rose up to 9.5% to Rs 1095 against previous close of Rs 1000 on BSE. Muthoot Finance share has gained 12.58% in 3 days.
Total 1.50 lakh shares changed hands amounting to turnover of Rs 16.06 crore. The stock opened with a gain of 3% at Rs 1030 today. The share trades higher than 5 day, 20 day, 50 day, 100 day and 200 day moving averages.
In one year, the large cap stock has gained 73% and risen 41% since the beginning of this year. Market cap of the firm rose to Rs 43,372 crore.
For quarter ended March this year, the firm reported standalone net profit of Rs 815 crore against Rs 512 crore in Q4FY19. Standalone loan assets stood at Rs 41,611 crore in Q4 against Rs 34,246 crore as on March 31, 2019, Y-o-Y growth of 22%.
During the quarter, gold loan assets increased by Rs 3,113 crore. The firm reported 51 per cent year-on-year increase in its consolidated net profit at Rs 3, 169 crore for the financial year ended March 31, 2020 (FY20).
The company had posted consolidated net profit of Rs 2,103 crore in the financial year 2018-19 (FY19).
Standalone net profit of the company stood at Rs 3,018 crore registering an increase of 53% for FY20 as against Rs 1,972 crore in the previous year.
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George Alexander Muthoot, Managing Director of the firm said, " The company could open majority of its branches since April 20 and as of now all branches are functioning normally. Company continues to maintain adequate liquidity to meet all repayment obligations. We are looking to grow gold loan business by about 15% for the whole year."