Muthoot Finance Results: Latest Quarterly Results & Analysis

Finance company Muthoot Finance announced Q3FY25 results

• Consolidated Loan Assets Under Management increased by Rs 7,159 crore i.e., an increase of 7% QoQ.
• Consolidated Profit after Tax for Q3FY25 increased by 21% YoY at Rs 1,392 crore as against Rs 1,145 crore in Q3FY24.

George Jacob Muthoot, Chairman, The Muthoot Group, said: “We are glad to report continued growth momentum on QoQ basis with our Consolidated Loan Assets Under Management crossing another milestone of Rs 1,11,000 crore, while our Standalone Loan AUM surpassing Rs 97,000 crore. The contribution of subsidiaries stands at 14%. Additionally, our Consolidated Profit after Tax for 9MFY25 increased by 19% YoY to Rs 3,908 crore. Amid favorable macroeconomic indicators, the union budget’s positive tax reform announcements are expected to start a consumption cycle, combined with a steadfast commitment to the fiscal deficit target, the general economic outlook looks promising. Also, RBI’s focus on enhancing liquidity, and the move to slash the bench mark interest rate for the first time in 5 years, paint an optimistic outlook. In line with our vision to emerge as a diversified financial services provider, we are actively expanding our new product portfolio, including Business Loans, SME Loans, Loan against Property, and Personal Loans. These offerings complement our core Gold Loan business, providing customers with tailored financial solutions while enabling us to broaden our customer base and revenue streams. As we scale up our non-gold loan segments and enhance the contribution from subsidiaries, we are on track to grow their share to 18%-20% over the next five years. We remain committed to leveraging our strengths to drive inclusive growth and long-term value creation for all stakeholders.”

George Alexander Muthoot, Managing Director, Muthoot Finance, said: "We are pleased to report another strong quarter, building on our robust performance trajectory. In Q3FY25, our Standalone Loan AUM witnessed a significant growth of Rs 26,305 crore, driven by a robust 37% YoY growth in our core gold loan portfolio. During 9M, gold loans increased by Rs 21,660 crore registering a growth of 29%. This was in tandem with the accelerated demand for gold loans, especially during the festive season. Our Standalone Profit after Tax for 9M grew by 23% YoY at Rs 3,693 crore. The surge in gold loan advances reflects not only the trust our customers place in us but also the resilience of India's economic momentum. Among our subsidiaries, we have witnessed growth in our housing finance arm disbursing Rs 880 crore in 9MFY25, up from Rs 493 crore last year. We have tempered disbursements in response to challenges faced in microfinance sector, and our focus continues to be on strengthening collections and enhancing quality of loan book. We are closely monitoring the industry situation, and we see this as a transitionary issue, and expect it to get to be resolved in the next couple of quarters. The expansion of our branch network and the increasing adoption of digital platforms have further strengthened customer engagement, with a significant portion of transactions now being facilitated through digital channels.”

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Finance company Muthoot Finance announced H1FY25 & Q2FY25 results

Standalone Financial Highlights:

• Highest Ever Standalone Loan AUM at Rs 90,197 crore as on September 30, 2024.
• Historic Highest YoY Growth in Loan AUM of Rs 21,195 crore in any 1st half of a year, up by 31%.
• Historic Highest YoY Growth in Gold Loan AUM of Rs 18,646 crore in any 1st half of a year, up by 28%.
• Highest Ever Standalone Profit after tax at Rs 2,330 crore in any 1st half of a year, up by 18% YoY

Consolidated Financial Highlights:

• Highest Ever Consolidated Loan AUM at Rs 104,149 crore as on September 30, 2024.
• Historic Highest YoY Growth in Loan AUM of Rs 24,656 crore in any 1st half of a year, up by 31%.
• Highest Ever Consolidated Profit after Tax at Rs 2,517 crore in any 1st half of a year, up by 18% YoY.

Other Highlights:

• Raised USD 100 million through Global issuance of bonds as a follow-onissue to the USD 650 million raised in Q1FY25.
• Flagship healthcare CSR initiative- Muthoot Snehasraya Project won Bronze medal at the 11th National CSR Times Summit & Awards 2024 held at Raj Bhawan, Goa.
• Muthoot Finance recognized as the 'Corporate Bond - Public Issuance of the Year' for the second time in a row by ASSOCHAM.
• Muthoot Finance’s Marketing campaign, Bharosa India Ka, won GOLD in two prestigious categories at the Pitch BFSI Marketing Awards 2024.
• Opened 556 new branches by the Muthoot Group in H1FY25.

George Jacob Muthoot, Chairman, The Muthoot Group, said: “ We are extremely happy to announce that our Consolidated Loan Assets Under Management has crossed golden milestone of Rs.1lakh crore. Our Consolidated Profit After Tax for the half year ended September 30 ,2024 has reached a historic high of Rs 2517 crore. This achievement is a reflection of relentless effort of our dedicated employees and the unwavering trust of our valued customers. Muthoot Finance has the lowest number of customer complaints among peers which underscore our commitment to customer satisfaction. We continue to be a trusted partner of choice for our customers. In alignment with the RBI’s focus on customer protection and compliance, we assure all stakeholders that Muthoot Finance remains dedicated to responsible lending practices. As India’s economic and investment activities gain momentum, we are steadfast in our vision to diversify our portfolio beyond gold loans, evolving as a comprehensive financial services group.

George Alexander Muthoot, Managing Director, said: “We are pleased to announce that we have achieved exceptional financial results for the first half of FY25 . Our Standalone Loan Assets Under Management reached a historic high of Rs 90,197 crore, driven by a robust 28% YoY growth in our core gold loan portfolio. Our Standalone Profit After Tax grew by 18% YoY at Rs 2330crs. This half year saw the highest-ever gold loan disbursements to new customers of Rs 10,687 crore to 9.66 lakh customers. Among the peer NBFC group, We have the highest average Gold Loan AUM per branch of Rs 17.75 crore. During the half year, Gold loan portfolio grew by 18% of Rs 13285 crore. On the back of these achievements, wewish to revise our earlier guidance for FY25 on gold loan growth from 15% to 25%. We are also encouraged by the progress in our non-gold loan portfolio, with notable growth across microfinance, personal loans, and home loans, strengthening our position as a diversified financial services conglomerate.

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Finance company Muthoot Finance announced Q1FY25 results:

Financial Highlights: 

• Consolidated Loan Assets Under Management crosses Rs 98,000 crore
• Highest Ever Consolidated Loan Assets Under Management at Rs 98,048 crore as on June 30, 2024
• Historic Highest YoY Growth in Loan Assets Under Management of Rs 21,249 crore, up by 28%
• Highest Ever Consolidated Profit after Tax at Rs 1,196 crore for Q1FY25, up by 14% YoY
• Highest Ever Standalone Loan Assets Under Management at Rs 84,324 crore as on June 30, 2024
• Historic Highest YoY Growth in Gold Loan Assets Under Management of Rs 14,883 crore, up by 23%
• Highest Ever Standalone Profit after tax at Rs 1,079 crore for Q1FY25, up by 11% YoY

Business Highlights:

• Raised USD 650 million through Global issuance of bonds 
• Opened 218 new branches by the Group in Q1FY25
• Muthoot Finance became the only Indian NBFC selected for Financial Action Task Force (FATF) On-site Mutual Evaluation Report on India conducted in November 2023 where India received Outstanding Outcome and placed it in the ‘regular follow-up’ category.
• Muthoot Finance launched two new ad films as part of its 'Bharosa India Ka' brand campaign

George Jacob Muthoot, Chairman said “Muthoot Finance has begun FY25 with a strong quarter with our Consolidated Loan Assets Under Management reaching highest ever level of Rs 98,048 crore and Standalone Loan Assets Under Management reaching highest ever level of Rs 84,324 crore. It reflects a robust growth of 28% YoY in Consolidated Loan Assets Under Management driven by 51% growth in Loan Assets of subsidiaries from Rs 9,540 crore to Rs.14,444 crore and 24% growth in Loan Assets of Muthoot Finance from Rs.67,259 crore to Rs 83,604 crore. Our subsidiaries have continued the strong growth momentum, contributing significantly to our consolidated loan assets which now stand at 15%. Consolidated Profit after Tax also grew by 14% YoY to Rs 1,196 crore. The contribution of our subsidiaries in consolidated Profit After Tax stand at 10% in Q1FY25, reflecting our focus on emerging as a diversified financial services group. In the backdrop of India being on a positive growth trajectory, evolving as an attractive global investment destination, the financial sector is set to play a crucial role in this journey. With sweeping digitization across financial sector, we will continue to intensify our digital efforts to improve access to credit and include customers across the social pyramid. As we continue to retain our leadership position in gold loan industry, our strategic emphasis on digital initiatives and the expansion of our non-gold loan portfolio positions us well for sustained success in FY25 and beyond.”

Commenting on the Company’s performance, George Alexander Muthoot, Managing Director, said, "We had an impressive start to the year with our Standalone Loan Assets Under Management reaching a historic high of Rs.84,324 crore, driven by robust 23% YoY growth in gold loan of Rs.14,883 crore and a 11% QoQ increase of Rs 8,043 crore. This growth is a testament to our three-pronged strategy to focus on disbursements, operational efficiency, and maintaining healthy margins. In this quarter, Gold Loan disbursements was the highest ever in any quarter amounting to Rs.73,648 crore. Further, the Gold Loan disbursements to new customers was also the highest ever in any quarter amounting to Rs .5,651 crore. As a result, our Standalone Profit after Tax for Q1FY25 grew by 11% to reach Rs 1,079 crore. As we continue our efforts to diversify our loan book, our non-gold segments including microfinance loans, personal loans, and home loans have also shown significant progress, contributing to a wellrounded financial performance. The housing finance arm achieved disbursements of Rs.221 crore in Q1FY25 as against Rs.109 crore in Q1FY24, a YoY increase of 102%. Our microfinance arm saw its Loan AUM for Q1FY25 increasing to Rs.9,952 crore as against Rs.7,008 crore in Q1FY24, an increase of 42% YoY.

Additionally, the Union Budget’s emphasis on MSMEs, women entrepreneurs, and the agricultural sector is particularly encouraging for us. The credit guarantee scheme will significantly enhance credit access for MSMEs, aligning perfectly with our commitment to supporting entrepreneurs with our small business loans. We are also in alignment with the initiative announced by the FM to boost the job creation and employability for the women and young talent and aim to offer valuable contribution in India Inc’s growth. This outlook, coupled with our strategic initiatives positions us well to achieve our growth targets for FY25.”

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Finance company Muthoot Finance announced FY24 results:

• Highest Ever Consolidated Loan AUM: 25% YoY Increase at Rs 89,079 crore
• Highest Ever Standalone Loan AUM: 20% YoY Increase at Rs 75,827 crore
• Highest Ever Consolidated Profit After Tax: 22% YoY Increase at Rs 4,468 crore
• Highest Ever Standalone Profit After Tax: 17% YoY Increase at Rs 4,050 crore
• Highest Ever Gross Gold Loan Advance in any Year: Rs 1,65,746 crore
• Highest Ever Gold Loan Advance to New Customers in any Year: Rs 16,415 crore
• Increase in Gold Loan AUM: 18% YoY of Rs 11,003 crore
• All Time High Interest Collection in any Year: Rs 10,984 crore
• Highest Ever Dividend in any Year: 240% at Rs 24 per Equity Share

George Alexander Muthoot, Managing Director said,"We take immense pride in achieving a loan growth of 20% as against a guidance of 15% in FY24. In Q4FY24, the Standalone Loan AUM witnessed a historic high of Rs 75,827 crore, driven by the robust growth in Gold Loan of Rs 3,657 crore. The Standalone Profit after Tax for FY24 increased by 17% YoY at Rs 4,050 crore. This year, we achieved the highest ever Gold Loan advance to new customers of Rs 16,415 crore, reinforcing our position as a trusted partner in the gold loan industry. Complementing our core gold loan business, our non-gold loan offerings continued to gain traction, with our microfinance loans, personal loans, and home loans playing a pivotal role in diversifying our overall loan book. The housing finance arm achieved disbursements of Rs 815 crore in FY24 as against Rs 223 crore in FY 23. The micro finance arm also witnessed upward trend, with increased Loan AUM by 62% YoY reaching Rs 10,023 crore and Profit after Tax by 161% YoY of Rs 340 crore.

As part of our transformational journey, in FY24, we also focused on boosting our digital business and tapping new techsavvy millennials and Gen Z customers. Our phygital strategy has yielded positive results with critical infrastructure already in place to move remaining gold and non-gold customers to digital channels who were hitherto transacting in cash. We are confident that the impact of regulatory norm of Rs 20,000 cash disbursal limit on our business and volumes will be limited since it is an industry wide move. In alignment with strict vigilance from regulators on the NBFC industry, we also remain committed to maintaining the highest standards of corporate governance and compliance.”

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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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Non-banking Financial company Muthoot Finance announced H1FY24 results:

• Highest growth in loan assets of Rs 11,771 crore in H1FY24, up by 21% YoY
• Highest growth in gold loan assets of Rs 11,016 crore in H1FY24, up by 20% YoY
• Consolidated loan assets under management stood at Rs 79,493 crore, up by 24% YoY
• Consolidated profit after tax stood at Rs 2,140 crore for H1FY24, up by 24% YoY
• Standalone loan assets under management stood at Rs 69,002 crore, up by 21% YoY
• Standalone profit after tax stood at Rs 1,966 crore for H1 FY24, up by 18% YoY
• Opened 331 new branches by the group in H1FY24
• Raised Rs 700 crore through the 32nd Public Issue of Secured Redeemable Non-Convertible Debentures which was oversubscribed on the first day of the issue

George Jacob Muthoot, Chairman, The Muthoot Group said, “Muthoot Finance continues its growth journey delivering 24% YoY consolidated loan AUM growth reaching Rs 79,493 crore and 24% YoY growth in consolidated profit after tax of Rs 2,140 crore for first half of FY 2024. This was aided by strong growth in the gold loan portfolio of Rs 11,016 crore and the microfinance loan portfolio of Rs 2,736 crore. The increased profits came from gold loans, microfinance, housing finance as well and insurance broking businesses. We are focusing on maintaining strong leadership in the gold loan business and a gradual calibrated growth in the non-gold loan business comprising microfinance, housing finance, vehicle loans, personal loans, business loans, small business loans, and loans against property and corporate loans. Over the next five years, we are keen on increasing the proportion of non-gold businesses to 18% from the present 13%. The Indian economy continues to be resilient amidst global challenges and growth is underpinned by strong demand conditions, investment in public infrastructure, and a stable financial sector. As a result, we remain optimistic on strong growth momentum for our gold loans and non-gold loan business.”

George Alexander Muthoot, Managing Director said, "Our gold loan assets under management demonstrated strong growth, led by strong demand trends in both urban and semi-urban markets. Gold loan AUM grew 20% YoY and by 9% during the 1st half of FY 2024 reaching Rs 67,517 crore. We also witnessed the highest-ever gold loan advance to new customers in the first half of a year of Rs 8,109 crore. We have continued our strategic emphasis on disbursements, operational efficiency, and margins, which has resulted in our profits growing 18% YoY at Rs 1,966 crore in the 1st half of FY2024. We strongly believe that the resilience of the Indian economy, its positive outlook coupled with optimistic consumer and business sentiments, will keep the gold loan demand strong, and we retain our guidance of growing our gold loan book by 10-15% in FY24. Further, our non-gold loan businesses in subsidiaries continue to do well, with disbursements during the first half of the year increasing by 76% to Rs 4,294 crore in the microfinance business and by 164% to Rs 278 crore in the housing finance business. Total revenue on insurance broking business during the first half of the year increased by 85% at Rs 47 crore. We retired USD-denominated Senior Secured Notes amounting to USD550 Million, during 1st half of FY2024 which carried a high cost. We also opened 331 new branches in the first half of the year including in subsidiaries and we will continue to expand our range of financial solutions, enhancing customer engagement, and addressing their diverse financial needs. Our investment in digital strategy is paying off well with nearly 39% of our customer transactions now happening via our various digital channels.”

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Non-banking financial company Muthoot Finance announced Q1FY24 results:

• Q1 historic highest growth in loan assets of Rs 4,429 crore in Q1FY24, up by 7% QoQ
• Q1 historic highest growth in gold loan assets of Rs 4,164 crore in Q1FY24, up by 7% QoQ
• Historic highest disbursements in gold loan assets of Rs 53,612 crore in Q1FY24
• Consolidated loan assets Uunder management stood at Rs 76,799 crore, up by 21% YoY
• Consolidated profit after tax stood at Rs 1,045 crore for Q1FY24, up by 27% YoY
• Standalone loan assets under management stood at Rs 67,639 crore, up by 19% YoY
• Standalone profit after tax stood at Rs 975 crore for Q1FY24, up by 22% YoY
• Opened 59 new branches by the Group in Q1FY24
• Muthoot Finance received permission from RBI in July 2023 to open 114 new branches
• Raised Rs 179 crore through the 31st Public Issue of Secured Redeemable Non-Convertible Debentures mainly from retail investors

George Jacob Muthoot, Chairman, The Muthoot Group said, “Muthoot Finance has continued to deliver a strong performance in Q1FY24 and achieved Consolidated Loan AUM of Rs 76,799 crore, registering a growth of 21% YoY. Consolidated profit after tax grew by 27% YoY and stood at Rs 1,045 crore. We achieved the highest ever consolidated loan assets growth in any Q1 of Rs 5,302 crore. Our subsidiaries Muthoot Homefin, and Belstar Microfinance continue to report strong disbursements and as a result, the contribution of our subsidiaries to the overall consolidated loan AUM has increased to 12%. Our vision is to remain a leader in the gold loan business and at the same time cater to our large customer base with various loan products to meet their varied requirements. The Indian economy has been resilient so far, driven by strong domestic demand, and a pick-up in investment activity, signifying its enduring strength. As a result, we continue to foresee improved demand conditions for gold loans, small and personal and business finance loans in the current financial year.”

George Alexander Muthoot, Managing Director said, "Our Gold loan AUM continued to grow at a robust pace of 18% YoY and 7% QoQ and stood at Rs 66,039 crore in Q1FY24. Our strategic focus on disbursements, operational efficiency, and margins has led to a profit after tax of Rs 975 crore in Q1FY24, and profits grew 22% YoY. A resilient Indian economy, and improved demand conditions, make us optimistic about growing our gold loan book by 10-15% in FY24. With a continued focus on loan disbursements and recovery efforts, we are confident of maintaining our NIMs around 11%. Our non-gold loan segments continue to witness an improved business environment, and our new products - small business loans and micro-personal loans have reported good traction this quarter.

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Non-banking Financial company Muthoot Finance announced Q4FY23 & FY23 results:

• Historic Highest Growth in Loan Assets of Rs 5,479 crore in Q4FY23
• Historic Highest Growth in Gold Loan Assets of Rs 5,051 crore in Q4FY23
• Historic Highest Disbursements in Gold Loan Assets of Rs 51,850 crore in Q4FY23
• Consolidated Loan AUM stood at Rs 71,497 crore, up by 10% QoQ
• Consolidated Profit after Tax stood at Rs 1,009 crore for Q4FY23, up by 8% QoQ
• Standalone Loan AUM stood at Rs 63,210 crore, up by 9% QoQ
• Standalone Profit after tax stood at Rs 903 crore for Q4FY23
• Loan portfolio for FY23 increased to Rs 387 crore, as against Rs 207 crore in FY22
• Total revenue for FY23 grew by 24% to Rs 56 crore, as against Rs 45 crore during in FY22
• Profit after Tax increased to Rs 0.24 crore in FY23 from a loss of Rs 7 crore in FY22
• Interim dividend for FY23 of 220% i.e., Rs 22/- per Equity Share of Rs 10/- each involving a payout of Rs 883 crore

Commenting on the company’s performance, George Jacob Muthoot, Chairman, Muthoot Group said, “We achieved highest ever consolidated loan assets growth in any Q4 of Rs 5,479 crore. Consolidated Profit after tax for Q4 stood at Rs 1,009 crore. Our vision is to remain a leader in the gold loan business and at the same time cater to a large customer base with various loan products to meet their varied requirements. In this process, we expect to grow the loan book by 10-15% during FY 24. We continue to engage in various social projects and has spent Rs 96 crore under CSR during FY23. We continue to share the profits generated during the year to our shareholders by paying an interim dividend of 220% ie., Rs 22/- per Equity Share of Rs 10/- each which involved a total payout of Rs 883 crore.”

George Alexander Muthoot, Managing Director said, "The Gold Loan assets growth during Q4FY23 of Rs 5,479 crore was the highest ever in any Q4. The disbursements also stood a historic high in any Q4 at Rs 51,850 crore. Profit after tax remained steady for the quarter at Rs 903 crore. Increase in Stage 3 assets is purely an accommodation given to customers for few more months on the back of higher collateral value and we do not envisage any loss on account of the extended time. We have entered into new lending products like small business loans as well as micro personal loans. We intend to achieve calibrated growth in these new products during FY24. We also see revival in disbursements in subsidiaries. Microfinance achieved a YoY loan growth of Rs 1,827 crore. Housing Finance business achieved a QoQ loan growth of Rs 28 crore Vehicle finance business achieved a disbursement of Rs 24 crore in Q4FY23 as against Rs 20 crore during 9M FY23."

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Muthoot Finance announced Q3FY23 results:

• Consolidated Q3FY23:
  • Loan Assets Under Management increased to Rs 65,085 crore, up by 7% YoY.
  • Profit after Tax increased to Rs 934 crore for Q3FY23, up by 4% QoQ.
• Standalone Q3FY23:
  • Loan Assets Under Management increased to Rs 57,731 crore, up by 6% YoY 
  • Profit after tax increased to Rs 902 crore for Q3FY23, up by 4% QoQ.
• Key Highlights:
  • Opened 54 new branches in Q3FY23.
  • Raised Rs 422 crore through the 28th and 29th Public Issue of Secured Redeemable Non-Convertible Debentures.
  • Launched a 360-degree marketing campaign showcasing the message 'Put your Gold to Work'.

Commenting on the results, Mr. George Jacob Muthoot, Chairman Muthoot Group said, “We have reported a steady performance during the quarter. Our consolidated loan assets stand at Rs 65,085 crore, and has registered a growth of 7% YoY. Consolidated Profit after Tax has grown 4% and stands at Rs 934 crore for Q3FY23. The contribution of our subsidiaries to the overall consolidated AUM improved slightly to 12%, and going ahead we expect the share of non-gold AUM to gradually rise. It is to be noted that despite the challenges, efforts by NBFC sector has increased the visibility of the gold loans as a safe, secured lending product. We are hopeful that our expertise in the product would help us capitalise on this positively in the coming quarters”.

Mr. George Alexander Muthoot, Managing Director said, " Muthoot Finance registered a YoY growth of 6% in loan assets and marginal QoQ growth in gold loans of less than 1%. Yield on loan portfolio witnessed a QoQ increase of 0.84% consequent to stoppage of very low rate teaser loans. Borrowing cost slightly rose to 8.13% due to the impact of general increase in the interest rates with banks MCLR being constantly revised and fresh NCDs being raised at higher rates. Our continued focus on loan disbursements, recovery efforts and keeping our borrowing costs under check could enable us to maintain our NIMs in the range of 11-12%. Return on assets for the quarter improved to 6.27%.”

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