Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week weve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Currently, 99% of the company s book is in gold loan. The plan to cut down gold loan portfolio is part of a diversification strategy, says Shaji Varghese, CEO, Muthoot Fincorp. The company has no plan to go public in the next 18-24 months, he said.
Financial services companies such as Aditya Birla Capital, Angel One and Muthoot Fincorp are building superapps a one-stop applications for all their customers needs. This development comes as large groups such as Reliance Industries and Tata Group have already rolled out such superapps for everything from shopping to payments and credit under one roof.
The asset under management (AUM) stood at Rs 33,359.30 crore. The consolidated net profit rose 62 percent to Rs 1,047.98 crore in FY24, Muthoot FinCorp said in a statement.