Muthoot Finance's profit soars 90% as gold loans surge
Muthoot Finance just posted a massive 90% rise in profit for the April-June quarter, hitting ₹2,046 crore—way above what analysts expected.
The big boost came from sky-high gold prices and more people turning to gold loans as other credit options got tighter.
As banks tighten credit, gold loans shine
With gold prices breaking records, Muthoot's loan assets jumped 42% year-on-year to ₹1.2 trillion.
Higher collateral values meant bigger loans for customers, and interest income shot up 53%.
As banks made unsecured loans harder to get, even more borrowers chose gold-backed options.
Muthoot is betting big on its subsidiaries
Muthoot is putting serious money into its subsidiaries—₹500 crore into Muthoot Money and ₹200 crore into Muthoot Homefin—to fuel more growth.
Managing Director George Alexander Muthoot says they're set up for steady expansion through fiscal 2026 and beyond.