Leading gold loan company Muthoot Finance has registered over 80% jump in net profit at Rs 892 crore for the financial year 2011-12. The company had posted a net profit of Rs 494 crore in the previous fiscal. The company’s total income during the year went up by over 96% at Rs 4,549 crore as against Rs 2,316 crore in 2010-11.
The company’s board has recommended a maiden dividend of 40% for the fiscal ended March, 2012 which was subject to shareholders approval.
Muthoot Finance is a non-deposit taking systemically important non-banking finance company (NBFC). It is primarily in the business of lending against used household gold jewellery to individuals.
