Standalone Loan Assets Under Management (AUM) crosses landmark of Rs. 90,000 crores
FinTech BizNews Service
Mumbai, 14 November, 2024: A meeting of the Board of Directors of Muthoot Finance Ltd. was held today to consider and approve the unaudited standalone and consolidated results for the quarter ended September 30, 2024.
Consolidated Results
Muthoot Finance Ltd Consolidated Loan Assets Under Management grew 31% YoY to Rs. 104,149 crores in H1 FY25 as against Rs. 79,493 crores last year. During the quarter, Consolidated Loan Assets Under Management increased by 6% of Rs. 6,101 crores and increased by 17% of Rs.15,071 crores during the half year. Consolidated Profit after tax for H1 FY25 stood at Rs. 2,517 crores as against Rs. 2,140 crores last year, an increase of 18% YoY. Consolidated Profit after tax for Q2 FY25 increased by 21% YoY at Rs. 1,321 crores as against Rs. 1,095 crores in Q2 FY24.
(Rs. in crores)
Financial Performance | Q2 FY25 | Q1 FY25 | QoQ % | Q2 FY24 | YoY % | H1 FY25 | H1 FY24 | YoY % |
Group Branch Network | 7,097 | 6,759 | 5% | 6,169 | 15% | 7,097 | 6,169 | 15% |
Consolidated Gross Loan Assets of the Group | 1,04,149 | 98,048 | 6% | 79,493 | 31% | 1,04,149 | 79,493 | 31% |
Consolidated Profit of the Group | 1,321 | 1,196 | 11% | 1,095 | 21% | 2,517 | 2,140 | 18% |
Contribution in the Consolidated Gross Loan Assets of the Group | ||||||||
Muthoot Finance Ltd | 89,081 | 83,604 | 7% | 68,872 | 29% | 89,081 | 68,872 | 29% |
Subsidiaries | 15,068 | 14,444 | 4% | 10,621 | 42% | 15,068 | 10,621 | 42% |
Contribution in the Consolidated Profit of the Group | ||||||||
Muthoot Finance Ltd | 1,235 | 1,071 | 15% | 984 | 26% | 2,306 | 1,955 | 18% |
Subsidiaries | 86 | 125 | -31% | 111 | -23% | 211 | 185 | 14% |
Mr. 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.1 lakh crore. Our Consolidated Profit After Tax for the half year ended September 30 ,2024 has reached a historic high of Rs.2517 crores. 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.”
Commenting on the company’s performance, Mr. George Alexander Muthoot, Managing Director, said, “We are pleased to announce that we have achieved exceptional financial results for the first half of FY 2025 . Our Standalone Loan Assets Under Management reached a historic high of Rs. 90,197 crores, 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 crores to 9.66 lakh customers. Among the peer NBFC group, We have the highest average Gold Loan AUM per branch of Rs.17.75 crores. During the half year, Gold loan portfolio grew by 18% of Rs.13285 crores. On the back of these achievements, we wish 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.”
The first half of the year has been a transformative for us, marking significant milestones for Muthoot Finance. One of the key highlights is our successful fund raise of USD 750 million through Global issuance USD denominated Bonds which is a testament to our resilient performance, commitment to our customers, and financial credibility in global markets. This capital will fuel our growth initiatives across diverse segments, positioning us to serve a broader range of customers and expand our digital reach. With an increased focus on enhancing customer experience, we are intensifying our omnichannel strategy to meet the evolving preferences of younger generation including millennials and Gen Z who view gold loans as a strategic financial tool. Our digital platforms now integrate seamlessly with our physical branches, providing an experience that combines the convenience of online access with the personalized support of branch managers.
As we move forward, Muthoot Finance remains committed to not only strengthening our leadership in the gold loan industry but also broadening our portfolio with new products and services that meet the diverse financial requirements of our customers. This quarter’s achievements reinforce our mission to make inclusive finance a reality for all segments of society, fostering financial empowerment across India.”
