Muthoot Microfin Q2 Outcomes: Internet revenue jumps 25-fold to Rs 110 crore

Muthoot Microfin has seen its internet revenue for the September quarter jumped to Rs 110 crore in opposition to Rs 4.5 crore within the year-ago interval, backed by wholesome enterprise, earnings development and asset high quality enchancment.

Its curiosity revenue rose to Rs 476 crore as in contrast with Rs 297 crore earlier.

The lender introduced the quarterly numbers on Tuesday.

Its gross mortgage portfolio grew 32% year-on-year to round Rs 11000 crore. Asset high quality improved with the gross non-performing property ratio declining to 2.37% on the finish of September from 2.97% six months again, in sync with the microfinance business development.

On Monday, the lender acquired Sebi approval for a Rs 1350-crore preliminary public supply.

The microfinance subsidiary of Muthoot Pappachan group could be seeking to difficulty recent fairness shares price Rs 950 crore by way of the IPO which additionally includes a suggestion on the market aggregating as much as Rs 400 crore.

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