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VERIFIEDET Markets·positive
Muthoot Finance reports 25% rise in Q1 profit, announces leadership transition
AI Summary
- ·Muthoot Finance reported a 25% year-on-year rise in standalone net profit to Rs 2,550 crore for the June quarter.
- ·The profit growth was driven by robust expansion in its gold loan business.
- ·Alexander George Muthoot is slated to become the new managing director from October 1, pending shareholder approval.