IGI Logo

Consolidated Loan Assets Under Management increased to Rs.60,919 crores, up by 17% YoY for H1 FY22

Consolidated Profit after Tax increased to Rs.1,981 crores, up by 11% YoY for H1 FY22

Standalone Loan Assets Under Management increased to Rs.55,147 crores for H1 FY22, up by 17% YoY

Standalone Profit after tax increased to Rs.1,965 crores for H1 FY22 , up by 13% YoY

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 and half year ended September 30, 2021.

Management Quote:

While commenting on the results George Jacob Muthoot, Chairman, Muthoot Group said, “As second wave of the pandemic has ebbed and economy further unlocks, corporate India has emerged stronger and better. We were able to maintain growth momentum during the quarter with all of our branches now open for business. Our consolidated loan AUM stood at Rs.60,919 crores as of end September 2021, clocking a growth of 5% QoQ and a growth of 17% YoY despite a challenging business environment. Consolidated Profit after tax stood at Rs.1,981 crores for the half year ended September 2021, registering a growth of 11% YoY. 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.”

George Alexander Muthoot, Managing Director, Muthoot Finance said, “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% growth guidance for FY22. We are witnessing improved collections across Micro finance, vehicle finance and home loans. In the last quarter we had consciously decided to go slow on non-gold lending business, we continue to remain conscious and monitor the space for emerging opportunities. We will continue to follow the strategy of balanced growth while maintaining overall asset quality.”

Consolidated Results of Muthoot Finance Ltd

Muthoot Finance Ltd Consolidated Loan Assets under management grew 17% YoY to Rs. 60,919 crores as at H1FY22 as against Rs.52,286 crores last year. During the quarter, Consolidated Loan Assets under management increased by Rs.2,784crores ie. an increase of 5% QoQ. Consolidated Profit after tax for H1FY22 grew 11% YoY to Rs. 1,981 crores as against Rs.1,788 crores last year.

To Read Complete Report & Disclaimer Click Here

Above views are of the author and not of the website kindly read disclaimer