Muthoot Finance posts ₹511-cr net profit in Q4

The net profit of Muthoot Finance, the largest gold financing company in the country, remained flat at 511 crore in Q4 of FY19, compared to 508 crore in the corresponding period of the previous fiscal.

However, the standalone net profit of the NBFC was up 11 per cent at 1,972 crore for FY19, compared to 1,778 crore in FY18.

The consolidated PAT also registered a 14 per cent increase at 2,103 crore, compared to 1,844 crore in the previous fiscal.

The consolidated loan assets under management (AUM) achieved a 20 per cent increase at 38,304 crore, against last year’s 31,921 crore. Loan assets stood at 34,246 crore at March 31, 2019, against 29,142 crore in March 31, 2018.

During Q4 FY19, loan assets increased by 1,776 crore. Muthoot Homefin India, a wholly-owned subsidiary, achieved a net profit of 36 crore in FY19, against 22 crore in the previous year.

Belstar Investment and Finance Pvt Ltd, the microfinance NBFC, achieved a PAT of 73 crore against 27 crore in the previous year.

Muthoot Insurance Brokers Pvt Ltd generated total premium collection of 268 crore in FY19 and PAT of 15 crore.

Interim dividend

Muthoot Finance also paid an interim dividend of 120 per cent, 12 per share for FY19. The company also floated a public issue of debentures focussing on retail investors, raising 709 crore, which, according to its Chairman MG George Muthoot, “shows our ability to have diversified funding sources”.