Muthoot Finance on Wednesday reported 59% jump in its net profit for the June quarter at ₹841 crore. The company reported net profit of ₹530 crore in the year-ago period.
Total revenue from operations increased 28% to ₹2,385 crore as against ₹1,857 crore in June 2019.
The company said it has decided to seek shareholders’ approval for an increase in the borrowing powers of the Board of Directors to ₹75,000 crore.
"There has been no significant impact on the operations/financial position ofthe company on account of outbreak of the Covid-19 pandemic and the limitations/restrictions arising tberefrom. In accordance with the concessional package announced bey RBl, the company has offered an optional moratorium on repayment of loan instalments falling due between March l, 2020 and August 31, 2020 and the asset classification for all accounts where moratorium is granted continues to remain stand-still during the aforesaid period as per such guidelines," the financial company said in its stock exchange filing.
At 3 pm on Wednesday, the gold loan NBFC's scrip on BSE was trading 2.6% higher at ₹1,270.
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