Muthoot Finance on Thursday reported a two-fold on-year rise in consolidated net profit for Q3FY26 at ₹2,823 crore. The gold loan NBFC has home finance, micro-finance, insurance broking, and two more smaller subsidiaries.
The assets under management (AUM) of Muthoot Finance rose 50 per cent year-on-year (y-o-y) to ₹1.44 lakh crore, while group’s branch network rose to 7,541 from 7,340 in Q3FY25. The Reserve Bank of India’s (RBI) recent proposal that gold loan NBFCs with over 1,000 branches will no longer require prior regulatory approval to open new branches is seen as net positive for gold loan NBFCs like Muthoot Finance, analysts say.
The gold loan tonnage with NBFC stood at 205 tonnes as on December 2025, lower than four tonnes sequentially, but three tonnes higher than December 2024. Muthoot Finance’s total income grew 64 per cent y-o-y to ₹7,263 crore, whole total expenses were up 43 per cent at ₹3,618 crore.
Net interest margin stood at 12.77 per cent in Q3, higher than 12.66 per cent a quarter ago. Stage-3 loan ratio, or gross bad loan ratio, stood at 1.58 per cent in Q3, lower than 2.25 per cent a quarter ago.
George Jacob Muthoot, Chairman, Muthoot Group, says the repo rate cuts by banking regulator and liquidity management have fostered a more accommodative credit landscape. Additionally, targeted GST rate reductions are playing a crucial role in supporting consumption, thereby driving incremental credit demand for households and small businesses.
“In this environment, our core business of secured gold loans has become increasingly relevant, offering customers timely and transparent liquidity. Higher gold prices have naturally enhanced customer borrowing capacity, while our disciplined underwriting continues to ensure strong portfolio resilience,” he said.
Published on February 12, 2026
