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  5. Muthoot Finance shares up 3% as loan AUM hits historic high, Q4 PAT up 17% YoY

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Muthoot Finance shares up 3% as loan AUM hits historic high, Q4 PAT up 17% YoY

Upstox
By Upstox News Desk

2 min read | Updated on May 31, 2024, 11:00 IST

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SUMMARY

Muthoot Finance’s loan assets under management (AUM) increased 20% to a historic high of ₹75,827 crore as of March 31, 2024. Total income rose by 19% YoY ₹3,418 crore during the quarter. For the full fiscal year 2024, the firm reported a 17% rise in its net profit at ₹4,050 crore. Total income rose 20% to ₹12,694 crore during the year.

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Muthoot Finance shares up 3% as loan AUM hits historic high, Q4 PAT up 17%

Shares of Muthoot Finance jumped over 3% year-on-year (YoY) on Friday morning after the company reported a 17% rise in its fourth-quarter standalone net profit at ₹1,056 crore and a historic loan assets under management figure.

Loan assets under management (AUM) increased 20% to a historic high of ₹75,827 crore as of March 31, 2024. Total income rose by 19% YoY ₹3,418 crore during the quarter.

For the full fiscal year 2024, the firm reported a 17% rise in its net profit at ₹4,050 crore. Total income rose 20% to ₹12,694 crore during the year.

Strong performance by subsidiaries Meanwhile, Muthoot Homefin (India), a wholly-owned subsidiary of the firm, reported a loan AUM of ₹2,035 crore in FY24, registering an increase of 42% YoY. The company’s loan disbursement for FY24 stood at ₹815 crore as against ₹223 crore in FY23, recording an increase of 265% YoY.

Belstar Microfinance (BML), a Reserve Bank of India (RBI) registered microfinance, and a subsidiary company where Muthoot Finance holds a 63.86% stake, reported a loan AUM of ₹10,023 crore during FY24, registering an increase of 62% YoY. The firm’s disbursement for FY24 stood at ₹9,708 crore, recording an increase of 68% YoY.

Management optimistic on business growth George Alexander Muthoot, managing director of Muthoot Finance said as part of the firm’s transformational journey, in FY24, it focused on boosting its digital business. “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 the regulatory norm of ₹20,000 cash disbursal limit on our business and volumes will be limited since it is an industry-wide move,” he said.

The company declared an interim dividend of ₹24 per share on May 23 for the year ending on March 31, 2024.

Shares of the company have risen over 15% since the beginning of the year. The stock has gained nearly 51% in the last one year.

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Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

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