Muthoot Finance net profit up 29%

Leading gold loan company Muthoot Finance today, reported a rise of 29.22% in its net profit to Rs 246 crores for the quarter ended June 30, 2012 as compared to Rs 190 crores for the corresponding period of the previous quarter.

During the quarter, total income surged by 40.68% to Rs 1,287 crore compared to Rs 916 crore of the corresponding period of the previous quarter.

However, in a other press release the company said that the board of directors has resolved to raise funds by public issue of secured non-convertible debentures of an amount aggregating upto Rs 5 billion.

While, asset under management (AUM) saw a decline of 5%.

Shares of the company were seen trading at Rs 126 higher by Rs 1.69%, after reaching intra-day high of Rs 134 on BSE at 1.30 pm IST.

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