Muthoot Finance shares price target raised post-Q4 results, stock up 4%

Muthoot Finance share price NSE, Muthoot Finance share price target, Muthoot Finance Q4 results: Muthoot Finance shares were in focus on Friday, May 31, a day after the gold financing company posted decent quarterly results for the January-March period. Halting the two-day falling trend, Muthoot Finance shares surged 4.2 per cent to the day's high of Rs 1,744.6 on NSE in morning deals. The counter also turned ex-dividend today. The counter closed at Rs 1,690, up 2.42 per cent on NSE. 

Muthoot Finance Q4 results 

On Thursday, post-market hours, Muthoot Finance posted a 17 per cent rise in consolidated net profit at Rs 1,182 crore in the March quarter. Muthoot Finance consolidated results take into account its subsidiaries Muthoot Homefin, Belstar Microfinance, Muthoot Money, Muthoot Insurance Brokers Pvt Ltd, and Asia Asset Finance PLC.

Total income increased to Rs 4,179 crore from Rs 3,298 crore a year ago, Muthoot Finance said in a regulatory filing. The expenditure during the quarter rose to Rs 2,594 crore from Rs 1,943 crore, it said.

The consolidated loan assets under management grew 25 per cent to Rs 89,079 crore as against Rs 71,497 crore at the end of the previous fiscal.

Muthoot Finance share price target: CLSA maintains 'reduce' call, raises target 

CLSA has maintained a reduce rating on Muthoot Finance. The brokerage has raised the target by Rs 260 per share to Rs 1,700 per share. The company saw a 70 bps expansion in its margin, which is in contrast to Manappuram Finance, the brokerage said in its note.

"Management is optimistic of delivering +15% gold loan growth in FY25. Separately, it guided for an increase in its cost of funds," it added. 

Muthoot Finance dividend 2024

Muthoot Finance has declared a dividend of Rs 24 or (240 per cent on the face value of Rs 10 per equity share).

(With PTI inputs)

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