Muthoot Finance quarterly profit nearly doubles on strong loan growth and high gold prices
Muthoot Finance profit nearly doubled last quarter as high gold prices and strong demand drove growth. The firm raised its annual loan outlook to 35 percent.
Insights:
Muthoot Finance Limited announced today that its third-quarter profit nearly doubled to 26.56 billion rupees for the period ended December 31. This performance by the prominent player among gold financiers in India 
IN was driven by strong loan demand and record-high gold prices. These market conditions increased the value of pledged gold, which in turn enabled the company to offer larger loans to its client base.
IN was driven by strong loan demand and record-high gold prices. These market conditions increased the value of pledged gold, which in turn enabled the company to offer larger loans to its client base.
