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.”
Muthoot Finance Ltd is in the Finance sector with the Market Capitalization of worth Rs. 59,136.73 crores, it is incorporated in the year 1997. It has consolidated sales of Rs. 2955.83 crores in June 2021. The company is also listed within the Bombay Stock Exchange (BSE) with the code 533398 and listed within the National Stock Exchange (NSE) with the code MUTHOOTFIN.
Muthoot Finance is an Indian financial corporation and is known to be the largest gold loan NBFC within the country. Muthoot Finance was incorporated as a private limited company under the name of The Muthoot Finance Private Ltd on 14th March ’1997 and was converted into a public company in 2008. The primary area of business for the company is financing gold transactions however, it also provides other services such as foreign exchange services, funds transfer services, wealth management services along with travel & tourism services, and also sells gold coins. Muthoot Finance also performs philanthropic activities through the Muthoot M George foundation and provides scholarships and environmental, financial, and health assistance to the needy. The promoters of the company currently hold 73.4% of the stake in the company while the Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) hold 15.02% and 7.73% of the stake. The balance of 3.86% is by others (retail investors). During the quarter ended 30th June ‘2021, the company has allotted 3555 shares under the ‘Muthoot ESOP 2013 Scheme’.
In June 2021, quarterly net sales were Rs. 2,713.80 crores, which has increased by approximately 13.78% from Rs. 2,385.08 crores for the April-June 2020 quarter. The quarterly net profit in June 2021 was Rs. 971.16 crores, which has increased by 15.51% from a net profit of Rs. 840.76 crores in June 2020. In June 2021, operating profit was Rs. 2,558.78 crores, which is also increased by 13.34% as compared to a net profit of Rs. 2,257.68 crores for the quarter ending in June 2020. From Rs. 20.96 in June 2020, the EPS of Muthoot Finance has increased to Rs. 24.21 in June 2021. MUTHOOTFIN’s stock closed at Rs. 1,474.00 on 16th August’2021 (NSE) and has returned 11.57% in the last six months and 25.11% in the previous year.
Muthoot Finance Ltd is in the Finance sector with the Market Capitalization of worth Rs. 59,136.73 crores, it is incorporated in the year 1997. It has consolidated sales of Rs. 2955.83 crores in June 2021. The company is also listed within the Bombay Stock Exchange (BSE) with the code 533398 and listed within the National Stock Exchange (NSE) with the code MUTHOOTFIN.
Muthoot Finance is an Indian financial corporation and is known to be the largest gold loan NBFC within the country. Muthoot Finance was incorporated as a private limited company under the name of The Muthoot Finance Private Ltd on 14th March ’1997 and was converted into a public company in 2008. The primary area of business for the company is financing gold transactions however, it also provides other services such as foreign exchange services, funds transfer services, wealth management services along with travel & tourism services, and also sells gold coins. Muthoot Finance also performs philanthropic activities through the Muthoot M George foundation and provides scholarships and environmental, financial, and health assistance to the needy. The promoters of the company currently hold 73.4% of the stake in the company while the Foreign Institutional Investors (FII) and Domestic Institutional Investors (DII) hold 15.02% and 7.73% of the stake. The balance of 3.86% is by others (retail investors). During the quarter ended 30th June ‘2021, the company has allotted 3555 shares under the ‘Muthoot ESOP 2013 Scheme’.
In June 2021, quarterly net sales were Rs. 2,713.80 crores, which has increased by approximately 13.78% from Rs. 2,385.08 crores for the April-June 2020 quarter. The quarterly net profit in June 2021 was Rs. 971.16 crores, which has increased by 15.51% from a net profit of Rs. 840.76 crores in June 2020. In June 2021, operating profit was Rs. 2,558.78 crores, which is also increased by 13.34% as compared to a net profit of Rs. 2,257.68 crores for the quarter ending in June 2020. From Rs. 20.96 in June 2020, the EPS of Muthoot Finance has increased to Rs. 24.21 in June 2021. MUTHOOTFIN’s stock closed at Rs. 1,474.00 on 16th August’2021 (NSE) and has returned 11.57% in the last six months and 25.11% in the previous year.
Muthoot Finance share price as on 26 Apr 2024 is Rs. 1655.05. Over the past 6 months, the Muthoot Finance share price has increased by 29.27% and in the last one year, it has increased by 62.4%. The 52-week low for Muthoot Finance share price was Rs. 1003.25 and 52-week high was Rs. 1698.5.
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Company share prices and volatile and keep changing according to the market conditions. As of Apr 25, 2024 04:03 PM the closing price of Muthoot Finance Ltd was ₹ 1,655.05.
Market capitalization or market cap is determined by multiplying the current market price of a company’s shares with the total number of shares outstanding. As of Apr 25, 2024 04:03 PM, the market cap of Muthoot Finance Ltd stood at ₹ 66,443.97.