Finance and insurance corporation Muthoot Finance has received RBI approval to open 115 new branches, a stock exchange filing revealed.
Granting permission, the Reserve Bank of India has asked Muthoot to provide details of the new branches.
“The company is also advised to ensure suitable arrangements for security and for storage of gold jewellery, including safe deposit vault, as envisaged in the extant directions, to the extent applicable,” RBI note read.
Muthoot Finance recently posted a 21 per cent increase in consolidated PAT in Q3 FY25 at ₹1,392 crore as against ₹1,145 crore in Q3 FY24. Its interest income grew to ₹5,067.3 crore in the December 2024 quarter as against ₹3,683.1 crore in the corresponding quarter previous year.
On Tuesday, the gold lender informed the stock exchanges about the receipt of order from the office of the Assistant Commissioner of State Tax, a demand of ₹40,19,762 along with an interest of ₹29,97,310 and a penalty of ₹4,19,336 for ITC claimed from cancelled dealers, return defaulters and tax non-payers.
The stock slipped 0.50 per cent to close at ₹2,177.55 on the NSE on Tuesday. It ended at ₹2,184 on the BSE.
