Muthoot Finance Ltd share Price Today

Muthoot Finance is a leading gold financier in India with standalone AUM of ₹ 63209 crore as on March 2023.

• It has a large footprint across India with 4700+ gold lending branches
• The company also has a presence in other lending segments like microfinance, housing, vehicle finance via its subsidiaries

Steady performance with a gradual revival in growth.

• Consolidated AUM up 9% YoY with standalone AUM up 8% YoY
• NII up 8.7% QoQ, NIMs up 40 bps QoQ at 12.3%, C/I ratio up at ~33%
• Provision at ₹ 75 crore vs. ₹ 56 crore QoQ. PAT was flat QoQ at ₹ 903 crore
• Stage-3 assets increased QoQ to 3.8%. ECL provision at 1.2% of total loans

Non-banking Financial company Muthoot Finance announced Q3FY24 & 9MFY24 results:

• Consolidated Loan Assets Under Management grew 27% YoY to Rs 82,773 crore as at 9MFY24 as against Rs 65,085 crore last year.
• During Q3FY24, Consolidated Loan Assets Under Management increased by Rs 3,280 crore i.e. an increase of 4% QoQ.
• Consolidated Profit after tax for 9MFY24 stood at Rs 3,285 crore as against Rs 2,661 crore last year, an increase of 23% YoY.
• Consolidated Profit after tax for Q3FY24 increased by 23% YoY at Rs 1,145 crore as against Rs 934 crore in Q3FY23.

George Jacob Muthoot, Chairman, The Muthoot Group said, “We are glad to announce that our Consolidated Loan Assets Under Management crossed the milestone of Rs 80,000 crore and Standalone Loan Assets Under Management crossed the milestone of Rs 70,000 crore. While the Consolidated Loan Assets Under Management increased by 27% YoY, the contribution of subsidiaries increased to 14% from 12% last year. The Consolidated Profit after Tax for 9MFY24 increased by 23% YoY at Rs 3,285 crore. The contribution of subsidiaries in the Consolidated Profit after tax also increased to 9% from 4% last year. India’s favorable demographics, coupled with our policymaker's focus on sustained economic growth presents a huge growth opportunity for us. In line with our vision to emerge as a diversified financial business, we are consciously pivoting our efforts towards growing our non-gold loan book while maintaining our position as a frontrunner in the gold loan industry. We aim to capitalize on the strong growth opportunity in affordable housing, microfinance, personal loans, and vehicle finance and grow the share of subsidiaries to 18%-20% in the next 5 years.

George Alexander Muthoot, Managing Director, Muthoot Finance said, "In Q3FY24, the Standalone Loan AUM grew by Rs 2,180 crore, primarily driven by growth in Gold Loan of Rs 1,704 crore, reaching Rs 71,182 crore. The Standalone Profit after Tax for 9MFY24 increased by 16% YoY at Rs 2,993 crore. In 9 months of this year, we achieved the highest ever Gold Loan advance to new customers of Rs 11,920 crore. Among subsidiaries, the housing finance arm could achieve disbursements of Rs 493 crore in 9MFY24 as against Rs 139 crore last year. The microfinance arm increased its Loan AUM by 65% YoY reaching Rs 8835 crore and Profit after Tax by 382% YoY of Rs 235 crore. We are confident that the resilient Indian economy coupled with government thrust on capex, pick-up in investment activity, and the uptrend in rural demand will keep the gold loan demand strong, and are well poised to achieve our guidance of growing our loan book by 15% in FY24. In addition, our non-gold loan businesses continue to do well, especially our microfinance loans, personal loans, and home loans are helping us diversify our overall loan book. We have further added 156 branches in Q3, including in our subsidiaries, thus taking our overall branch network to 6325 as of the end of December 2023. Our phy-digital strategy is paying off well and nearly 40% of our gold loan customers have transacted via our digital channels. We will continue to leverage our extensive branch presence, along with digital offerings, to enhance customer engagement and meet their diverse needs with tailored financial solutions.”

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