## Muthoot Finance Microfinance Share Price Surges 10% on Strong Q1 Results **Mumbai, India** - Muthoot Finance Microfinance, a leading microfinance institution in India, saw its share price surge by 10% on the Bombay Stock Exchange (BSE) today. This significant increase comes after the company reported strong financial results for the first quarter (Q1) of the current financial year (FY2023-24). **Key Highlights:** * Muthoot Finance Microfinance's consolidated net profit grew by 18% to ₹108 crore in Q1 FY2023-24, compared to ₹92 crore in Q1 FY2022-23. * The company's total income increased by 24% to ₹630 crore in Q1 FY2023-24, compared to ₹508 crore in Q1 FY2022-23. * The microfinance institution's total disbursements in Q1 FY2023-24 reached ₹2,900 crore, up from ₹2,400 crore in Q1 FY2022-23. **Performance Drivers:** * Increased lending to small businesses and low-income households * Focus on digitalization and technology to improve efficiency and reach * Effective risk management strategies to maintain asset quality **Market Reaction:** The strong financial performance has been positively received by investors. Muthoot Finance Microfinance's share price opened at ₹696.55 on the BSE today and reached an intraday high of ₹764.80, a gain of 9.7%. **Analyst Commentary:** Analysts attribute the rise in the company's share price to its strong underlying business fundamentals, consistent growth in its microfinance portfolio, and prudent financial management. Muthoot Finance Microfinance is well-positioned to continue its growth trajectory in the future, analysts say. **Outlook:** Muthoot Finance Microfinance expects to maintain its strong growth momentum in the upcoming quarters, supported by increasing demand for microfinance services in rural and semi-urban areas. The company is also actively pursuing new opportunities such as affordable housing finance and gold loans to diversify its revenue streams.
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