Shares of Muthoot Microfin surged up over 14% on Tuesday morning to hit an intraday high of ₹266.80.

What Happened: The massive surge today comes as the company posted its first results after listing. The private lender’s net profit for the October-December period, more than doubled to ₹124.60 crore compared to the year-ago period.

The NBFC’s net interest income (NII) — the difference between the income a lender makes from its lending activities and the interest it pays to depositors — rose by 53.07% to ₹343.07 crore. Net interest margin for the quarter was at 12.60%.

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Disbursements during the quarter saw a growth of over 19% year-on-year, reaching ₹2,592.10 crore, while assets under management (AUM) surged nearly 39% to ₹11,458.10 crore. The borrower base grew by 26.67% YoY from 25.88 lakhs to 32.78 lakhs across 1,424 branches. The branch count grew by 30.88% YoY.

CEO Sadaf Sayeed emphasized the lender’s commitment to maintaining a healthy loan portfolio, with improved non-performing asset (NPA) figures, highlighting a net NPA of 0.33%. Sayeed expressed optimism about sustaining the growth rate, citing favourable macroeconomic conditions.

The company went public last month, with shares listed at a 5.5% discount to the issue price of ₹291.

Price Action: Shares of Muthoot Microfin were up 10.35% to trade at 258 in early trade on Tuesday.

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