Muthoot Fincorp posts ₹705cr Q1 FY27 profit, up from ₹179cr
Business
Muthoot Fincorp, known for its gold loans, just posted a huge jump in profits: ₹705 crore for Q1 FY27, up from ₹179 crore last year.
This spike was boosted by a jump in net interest income and gains made from sale/assignment of loan portfolio.
Muthoot plans up to ₹3,000cr IPO
Profits from selling parts of its loan portfolio shot up nearly seven times to ₹247 crore.
Even with higher employee costs and major loan transfers on the books, Muthoot is planning an IPO to raise up to ₹3,000 crore, so it looks like they're gearing up for even bigger moves ahead.