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Muthoot Finance's profits nearly doubled in H1
Business
Muthoot Finance just pulled off a big win, with profits for July-September up 87% from last year to ₹2,345 crore.
Their total profit for the first half of the year nearly doubled too.
This surge mainly comes from growth in the company's loan portfolio, especially gold-backed loans.
Gold loans alone grew by 10% in just 1 quarter
The company's total loan book shot up 47%, reaching ₹1.32 lakh crore.
Gold loans alone grew by 10% in just one quarter, and now Muthoot wants to double its gold loan growth target for the year to up to 35%.
They're also planning to branch out into personal, home, and business loans—and are investing in digital tech so getting a loan is easier than ever.