''Muthoot Finance has recorded 11% growth in the net profit on
consolidated basis to Rs 891.86 crore for the quarter ended September 2022
(Q2FY2023) over a corresponding quarter of last year. On sequential basis, the
company has improved net profit by 9%, while exhibited substantially improvement
in the asset quality.
Income from operations declined 7% to Rs 2841.86 crore in the
quarter ended September 2022. Interest expense declined 5% to Rs 1020.5 crore, while
other expenses (including staff cost of Rs 342.2 crore and other expenses of Rs
210.23 crore) moved up 10% to Rs 552.43 crore. Ensuing Gross profit fell 15% to
Rs 1268.93 crore in Q2FY2023 over Q2FY2022.
Depreciation increased to Rs 18.38 crore in Q2FY2023 from Rs 15.83
crore in Q2FY2022, while provision and write offs dipped to Rs 43.78 crore in
Q2FY2023 from Rs 118.64 crore in Q2FY2022. PBT declined 11% to Rs 1206.77 crore.
Effective tax rate eased to 25.3% in Q2FY2023 from 25.8% in
Q2FY2022. Th...
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