Muthoot Finance has delivered a robust financial performance in the second quarter of FY26 on 13th November 2025, reporting substantial growth in profitability, loan book expansion, and record-high assets under management. The non-banking financial company (NBFC), known for its leadership in the loan-against-gold segment, recorded one of its strongest quarters to date, supported by healthy lending momentum.
Profit Growth and Overall Performance
For Q2FY26, the company posted an 87 per cent year-on-year (Y-o-Y) rise in consolidated net profit, touching ₹2,345 crore, compared with ₹1,251.1 crore in the same quarter last year. Sequentially as well, profit grew steadily, rising 14.6 per cent from ₹2,046 crore in Q1FY26.
Over the first half of the financial year (H1FY26), Muthoot Finance recorded consolidated profit of ₹4,386 crore, marking a 74 per cent jump over the previous year’s corresponding period. The management attributed this growth to ongoing strength in lending activity and consistent business traction across its portfolio.
Record Assets Under Management
The company achieved its highest-ever consolidated loan assets under management (AUM), reaching ₹1.48 trillion as of 30 September 2025. Chairman George Jacob Muthoot expressed confidence in the company’s growth trajectory, highlighting that the gold loan business continues to be the primary driver behind this performance.
He noted that consolidated loan AUM has touched a “historic high”, supported by the resilience of the company’s core business model and its ability to meet customer requirements effectively.
Revenue and Net Interest Income Growth
Muthoot Finance’s total income for the quarter increased significantly, rising to ₹6,461 crore from ₹4,126 crore in the same period last year.
Net interest income (NII), which reflects the company’s core earnings strength, grew 58.5 per cent Y-o-Y to ₹3,992 crore. This improvement underscores the company’s strong lending operations and continued demand for its gold-backed financing solutions.
Standalone Performance and Upgraded Guidance
The company’s standalone results also reflected healthy growth. Managing Director George Alexander Muthoot stated that standalone loan AUM rose to ₹1,32,305 crore, registering a 47 per cent Y-o-Y increase and a 10 per cent rise on a quarter-on-quarter basis.
He added that standalone profit after tax for H1FY26 surged 88 per cent Y-o-Y to ₹4,391 crore. Based on this strong performance, the company has revised its FY26 gold loan growth guidance upwards—from the earlier estimate of 15 per cent to a higher range of 30–35 per cent.
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Conclusion
Muthoot Finance’s Q2FY26 results highlight the company’s sustained operational strength, driven by solid lending activity, strong customer trust, and consistent expansion in assets under management. With record-high AUM figures and a substantial jump in profitability, the company continues to reinforce its position as a leading player in India’s NBFC space. The improved guidance for FY26 further reflects management’s confidence in the ongoing momentum of the gold loan business.
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