The web revenue for the quarter was Rs 996 crore in contrast with Rs 815 crore within the 12 months in the past interval. Web curiosity earnings rose practically 16% at Rs 1,830 crore over Rs 1,581 crore over the identical interval.
Demand for gold loans grew sharply final 12 months as this supplied short-term liquidity to people through the worrying final monetary 12 months. The gold loans additionally surged since different lenders went gradual in private loans.
Its mortgage belongings grew 26% year-on-year to Rs 52,622 crore on the finish of March from Rs 41,611 crore a 12 months again. The corporate’s share worth jumped about 8% to Rs 1414 on BSE after announcement of the earnings.
The board of the non-banking finance firm on Wednesday additionally permitted the appointment of George Jacob Muthoot as its chairman. He is without doubt one of the promoters of the corporate and youthful brother of late chairman M G George Muthoot, who handed away on March 5.