This post was originally published on this site.
Feb 13 (Reuters) – Shares of India’s Muthoot Finance fell more than 11% on Friday, putting the stock on track for its biggest daily percentage drop since August 2022, as investors questioned the sustainability of an earnings spike.
The gold loan provider on Thursday posted a near doubling of its quarterly profit.
Brokerages said that a large part of the profit came from interest income write-backs on loan recoveries, while core margins softened sequentially and active customer additions dipped.
(Reporting by Surbhi Misra in Bengaluru; Editing by Mrigank Dhaniwala)