Muthoot Finance

Muthoot Finance : Shares of Muthoot Finance crashed in the stock market on Tuesday. The company’s shares fell as much as 15%. This fall in the shares of the company was due to weak results for the first quarter of the current financial year.

Muthoot Finance : Shares of Muthoot Finance, a gold loan company, crashed in the stock market on Tuesday. This fall in the shares of the company was due to weak results for the first quarter of the current financial year. Shares of Muthoot Finance fell 15 per cent to a low of Rs 1009.80 in early trade on the Bombay Stock Exchange (BSE) on Tuesday. At present, the company’s shares are trading at Rs 1039.90, down 12.46 per cent.

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Muthoot’s profit has decreased by more than 17%

Muthoot Finance’s profit declined by 17.4% in the June 2022 quarter due to weakness in the gold loan business. The gold loan segment accounts for over 90% of the company’s overall asset under management (AUM). Apart from this, the customer base of the company has also declined. Despite weak results in the first quarter of the current fiscal, the company’s management has maintained an AUM growth of 10-15% for FY2023.

The company’s shares have fallen by 33% so far this year

Shares of Muthoot Finance have lost nearly 33% so far this year. At the beginning of the year, on January 3, 2022, the company’s shares were at a level of Rs 1540.40 on the Bombay Stock Exchange (BSE). At present, the company’s shares are trading at Rs 1039.90 on BSE on 16 August 2022. Shares of Muthoot Finance have lost over 23% in the last 6 months. At the same time, in the last 5 years, the company’s shares have climbed close to 125% on the BSE.

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Disclaimer: The performance information given here is only and it is not an investment advice. Investing in the stock market is subject to risks and please consult your advisor before investing

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