Muthoot Microfin Reports 27% Surge in Q4 Profit, Reaching Rs. 120 Crore

Muthoot Microfin reports a 27% increase in profit after tax to Rs 119.76 crore for the March quarter of 2023-24, driven by a 47% increase in net interest income. For the fiscal year, PAT doubled to Rs 450 crore, while NII rose 56% to Rs 1,361 crore.

Muthoot Microfin on Monday reported a 27 per cent rise in its profit after tax at Rs 119.76 crore during March quarter of 2023-24.

The non-banking finance company had reported a profit after tax (PAT) of Rs 94.56 crore in the corresponding fourth quarter of FY23, according to a regulatory filing.

The net interest income (NII) grew 47 per cent to Rs 400 crore during the March quarter of FY24 from Rs 272 crore in the year-ago period.

For 2023-24 fiscal, PAT grew over two-fold to Rs 450 crore.

The NII rose 56 per cent to Rs 1,361 crore in FY24.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)