KOCHI:
Muthoot Finance Ltd Consolidated Loan Assets under management achieved a YoY increase of 20% at Rs.38304 crs as against last year of Rs.31921crs. During the quarter, Consolidated Loan Assets under management increased by 7% of Rs.2361 crs. Consolidated Profit after tax achieved a YOY increase of 14% of Rs.2103 crs as against last year of Rs.1844 crores.
Standalone Results of Muthoot Finance Ltd and its subsidiaries
Muthoot Finance Ltd (MFIN), the largest gold financing company in India in terms of loan portfolio, registered an increase in net profit of 11%, at Rs.1972 crs for FY19 as against Rs.1778 crs in the previous year. Loan Assets stood at Rs.34246 crs as at March 31, 2019 as against Rs.29142 crs as at March 31,2018, Y-o-Y growth of 18%. During Q4 FY19, Loan Assets increased by Rs.1776 crs.
Muthoot Homefin (India) Ltd (MHIL) , the wholly owned subsidiary , increased its loan portfolio to Rs.1908 crs as against previous year of Rs.1459 crs , a YoY increase of 31%. During Q4 FY19 , loan portfolio increased by Rs.72 crs. Total revenue for FY 19 stood at Rs.226 crs as against previous year total revenue of Rs.117 crs. It achieved a net profit of Rs.36 crs in FY19 as against previous year profit of Rs.22 crs. Its Stage III Asset on Gross Loan Asset % as on March 31,2019 stood at 0.74%.
M/s. Belstar Investment and Finance Private Limited (BIFPL) , an RBI registered micro finance NBFC and Subsidiary Company where Muthoot Finance holds 70.01% stake, grew its loan portfolio to Rs.1842 crs as against last year of Rs.1138 crs, a YoY increase of 62%. During Q4 FY19 , loan portfolio increased by Rs.279 crs . It achieved a profit after tax of Rs.73 crs in FY19 as against previous year profit after tax of Rs.27 crs. Its Stage III Asset on Gross Loan Asset % as on March 31,2019 stood at 1.15%.
Muthoot Insurance Brokers Pvt Limited (MIBPL), an IRDA registered Direct Broker in insurance products and a wholly owned subsidiary company generated a total premium collection amounting to Rs.268 crs in FY19 as against Rs.169crs in the previous year. It generated a Profit after Tax of Rs.15 crs in FY19 as against Rs.11 crs in the previous year.
The Sri Lankan subsidiary – Asia Asset Finance PLC. (AAF) where Muthoot Finance holds 69.17% stake, increased its loan portfolio to LKR 1257 crs as against last year of LKR 995 crs, a YoY increase of 26%. During Q4 FY19, loan portfolio increased by LKR 94 crs. Total revenue for FY19 stood at LKR 287 crs as against previous year total revenue of LKR 257 crs. It generated a profit after tax of LKR 10 cr in FY 19 as against previous year profit after tax of LKR 18 crs.
Muthoot Money Pvt Ltd (MMPL), became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018. MMPL is a RBI registered Non- Banking Finance Company engaged mainly in extending loans for vehicles. The operations are now centered in Hyderabad. Recently, Company has started extending loans for Commercial Vehicles and Equipments. During FY 19, it has increased its loan portfolio to Rs.311 crs.
Commenting on the results M G George Muthoot, Chairman stated, “We are glad to announce that consolidated loan assets of the Group grew by 20% at Rs.38304 crs during FY 19 as against last year of Rs.31921 crs. Consolidated Profit increased by 14% at Rs.2103 crs during FY 19 as against last year of Rs.1844 crs. Muthoot Finance also paid an interim dividend of 120% ie., Rs.12 per share for FY 19. Company also made public issue of debentures focusing on retail investors raising Rs.709 crs which shows our ability to have diversified funding sources”.
Speaking on the occasion George Alexander Muthoot, Managing Director said, “Muthoot Finance achieved a growth of 18% during FY19 reaching Rs.34246 crs as against last year of Rs.29142 crs. Subsidiaries have achieved considerable momentum in building loan assets. Our subsidiaries achieved YoY loan growth of 51% reaching Rs.4558 crs as against last year of Rs.3012 crs . They are contributing 12% of Group Loan assets. Muthoot Homefin (India) Limited has grown its loan portfolio to Rs.1908 crs as against previous year of Rs.1459 crs , a YoY increase of 31%. The micro finance subsidiary which has a strong SHG model increased its loan portfolio to Rs. 1842crs as against last year of Rs.1138 crs, a YoY increase of 62%. The NBFC in Sri Lanka increased its loan portfolio by 26% YoY. Total Premium collections in the Insurance Broking subsidiary increased by 59% at Rs.268 crs during the year as against previous year.”
