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Muthoot Finance Q1 net profit grows 8% to ₹1,002 cr, loan assets rise 17% – Mint

Muthoot Finance posted a consolidated net profit of 1,001.96 crore for the second quarter ended September 30, 2021, rising per cent from 926.08 crore recorded in the year-ago period.

Loan assets of the group at the end of the first half of the current financial year increased 17 per cent to 60,919 crore, the company said in a regulatory filing on Thursday, as against 52,286 crore a year ago.

Total revenue from operations increased to 3052.16 crore during the quarter, as opposed to 2,821.02 crore. Of this, interest income was 3,003.28 crore, as compared to 2,728.99 crore.

“The contribution of our subsidiaries to the overall consolidated AUM stands steady at 10%. As a responsible NBFC, we have been consistently working towards an overall growth strategy focusing on governance, performance and ESG framework,” said George Jacob Muthoot, Chairman, Muthoot Group.

“The demand environment remains strong and as we enter the festive season we remain optimistic about growth momentum in gold loan over the second half of FY22. We are optimistic about growing our gold loan book further and maintain 15 per cent growth guidance for FY22,” said George Alexander Muthoot, Managing Director, Muthoot Finance.

On standalone basis, Muthoot Finance registered a net profit of 994 crore, rising 2 per cent from 971 crore. Earnings per share went up from 24.77 per share to 24.21 per share.

Standalone loan assets under the NBFC grew to 55,147 crore from 52,614 crore, making a growth of 5 per cent on-year. Average loan ticket size increased to 62,054 in the first half of the fiscal from 60,642 in the same period last year

 

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