Muthoot Microfin has seen its net profit for the September quarter jumped to Rs 110 crore against Rs 4.5 crore in the year-ago period, backed by healthy business, earnings growth and asset quality improvement.
Its interest income rose to Rs 476 crore as compared with Rs 297 crore earlier.
The lender announced the quarterly numbers on Tuesday.
Its gross loan portfolio grew 32% year-on-year to around Rs 11000 crore. Asset quality improved with the gross non-performing assets ratio declining to 2.37% at the end of September from 2.97% six months back, in sync with the microfinance industry trend.
On Monday, the lender received Sebi approval for a Rs 1350-crore initial public offer.
The microfinance subsidiary of Muthoot Pappachan group would be looking to issue fresh equity shares worth Rs 950 crore through the IPO which also comprises an offer for sale aggregating up to Rs 400 crore.
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