Muthoot Finance Q2 Results: Consolidated PAT grows 42%; check loan asset growth

Muthoot Finance Q2FY20 results: The largest gold financing company in India in terms of the loan portfolio, registered an increase in net profit of 42 per cent, at Rs 1,388 crores for H1 FY20 as against Rs 975 crores in the previous year.  Loan Assets stood at Rs 35,731 crores as at September 30, 2019 as against Rs 32,319 crores as at September 30, 2018, Y-o-Y growth of 11 per cent. Muthoot Homefin (India) has reported having increased its loan portfolio to Rs 2, 098 crores as against the previous year of Rs 1, 775 crores, a YoY increase of 18 per cent. During Q2 FY20, loan portfolio increased by Rs 110 crores, QoQ growth of 6 per cent. Total revenue for Q2 FY20 & H1 FY20 stood at Rs 91 crores and Rs 152 crores as against previous year total revenue of Rs 55 crores and Rs 104 crores. It achieved a profit after tax of Rs 14 crores and Rs 20 crores in Q2 FY20 & H1 FY20 as against previous year profit of Rs 11 crores and Rs 21 crores.

Commenting on Muthoot Finance Q2FY20 results MG George Muthoot, Chairman at Muthoot Finance (India) stated, “We are glad to announce that consolidated loan assets of the Group grew by 13 per cent at Rs 40, 390 crores during H1 FY20 as against last year of Rs 35,835 crores. Consolidated Profit increased by 42 per cent at Rs 1, 472 crores during H1 FY20 as against last year of Rs 1, 033 crores.”

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George Alexander Muthoot, Managing Director at Muthoot Finance (India) said, “During the quarter, the Company got rated by 3 International Credit Rating agencies – Fitch Ratings at “BB+/Stable”, S&P Global at “BB/Stable” & Moody’s Investor Service at “Ba2/Stable . In October 2019, Company raised 450 Million USD through the issuance of 6.125% Senior Secured Notes making the first private sector NBFC to make a debut issue under 144A/Reg. S mode”

M/s. Belstar Microfinance Private Limited (BMPL), an RBI registered microfinance NBFC and Subsidiary Company where Muthoot Finance holds 70.01 per cent stake, grew its loan portfolio to Rs.2107crs as against last year of Rs 1,381 crores, a YoY increase of 53 per cent. During Q2 FY20, the loan portfolio increased by Rs 169 crores. It achieved a profit after tax of Rs 28 crores and Rs 51 crores in Q2 FY20 & H1 FY20 as against previous year profit after tax of Rs 16 crores and Rs 29 crores.

Source: Muthoot Finance

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 71 crores and Rs 132 crores in Q2 FY20 & H1 FY20 as against Rs 67 crores and Rs 116 crores in the previous year. It generated a Profit after Tax of Rs 4 crores and Rs 7 crores in Q2 FY20 & H1 FY20 as against Rs 4 crores and Rs 6 crores in the previous year.