Highlights of Muthoot Finance Q4 Results

Highlights of Muthoot Finance Q4 Results

costindia_muthoot finance results
 
 
 
George Alexander Muthoot, managing director, said, “During the quarter, we disbursed fresh loans to 3.61 lakh new customers amounting to Rs 2,753 crore and to 4.32 lakh inactive customers amounting to Rs 2,917 crore.” The company also operates as a home loan, microfinance, and insurance broking subsidiary. Highlights of Q4 results are as follows:
 
  1. Gold loan assets increased by Rs 2,304 crores. Loan assets stood at Rs 52,622 crore as on March 31, 2021, as against Rs 41,611 crore in the year-ago period. 
  2. Due to the good performance of the gold loan division, the company reported a 22.5% year-on-year (y-o-y) increase in its fourth-quarter consolidated net profit to Rs 1,023.76 crore.
  3. The net profit of the gold loan division rose 24% y-o-y, while the net profit of the non-gold subsidiaries declined 32% to Rs 119 crore from Rs 176 crore in the last fiscal year. For the entire FY21, the NBFC reported a 21% y-o-y increase in its net profit to Rs 3,818.87 crore.
  4. Gold loans reported a quarter-on-quarter growth of 5%  during Q4, while other loans declined by almost 9%.

  5. The company reported consolidated loan assets under management increased 24% year-on-year to touch Rs 58,280 crore in Q4.

  6. The standalone net profit of Muthoot Finance increased 22% y-o-y to touch Rs 995.66 crore in Q4. For the entire FY21, it reported a net profit of Rs 3,722.17 crore, an increase of 23% compared to Rs 3,018 crore in FY20.

  7. Loan assets stood at Rs 52,622 crore as on March 31, 2021, as against Rs 41,611 crore in the last fiscal year. During the quarter, gold loan assets increased by Rs 2,304 crore.

  8. The long-term credit ratings of Muthoot were upgraded to ‘AA+’ by CRISIL and ICRA.

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