I ran a regression of Muthoot Finance’s Revenues to the Gold Prices (per g). I took the quarterly revenues and gold prices from June 2011 to March 2022. The R-Squared is 88.15% which means gold prices do affect Muthoot Finance’s Revenues. I came up with a conclusion that every rupee increase in Gold Price (per gram) will result in Rs. 7.05 increase in Muthoot Finance’s Revenues. Look at the numbers and relationship chart below:
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