Muthoot Finance Limited Q4 Result 2024

Synopsis:

Muthoot Finance Limited announced its quarterly results for March 2024 on 30th May. It reported a consolidated PAT of ₹288.77 cr for Q4 FY2024. Its consolidated total revenue for Q4 FY2024 increased by 12.83% on a YOY basis reaching ₹ 942.60 cr. The company announced a dividend of ₹24 per share for FY2024, which is the highest ever declared by the company.

Quarter result performance

The company’s total consolidated revenue for Q4 FY2024 was up by 12.83% on a YOY basis, reaching ₹ 942.60 cr from ₹ 835.42 cr in Q4 FY2023. The consolidated quarterly revenue was up by 36.77%. Muthoot Finance Limited reported the highest-ever consolidated PAT of ₹ 288.77 cr for Q4 FY2024 against ₹ 152.75 cr in Q4 FY2023, which is a hike of 89.05%. On a quarterly basis, the consolidated PAT increased by 113.86%. 

For the full financial year ending in March 2024, the consolidated PAT stood at ₹ 4467.59 cr compared to ₹ 3669.76 cr in FY 2023, which is an increase of 21.74%. For FY 2024, its total consolidated revenue stood at ₹ 15162.74 cr compared to ₹ 11975.00 cr in FY 2023, up by 26.62%. 

The company announced a dividend of ₹24 per share for FY2024. 

For FY2024, the company recorded the highest ever consolidated and standalone loan AUM of  ₹ 89,079 cr and ₹ 75,827 cr at 25% and 20% YOY growth, respectively. Additionally, it also recorded the highest-ever Gross Gold Loan Advance in any Year at ₹ 165,746 cr along with the new customers at ₹ 16,415 cr. For FY 2024, Muthoot Finance had a high-interest Collection of ₹ 10,984 cr.

Commenting on the Q4 results, Mr. George Jacob Muthoot, Chairman said, “We are glad to announce another year of remarkable growth and achievements for the company. Our Consolidated Loan Assets Under Management crossed milestone of Rs. 89,000 crores and Standalone Loan Assets Under Management crossed milestone of Rs.75,000 crores. The Consolidated Loan Assets Under Management increased by 25% YoY, and Standalone Loan Assets Under Management increased by 20%. The contribution of subsidiaries on loan assets increased to 15% from 12% last year, reflecting our strategic diversification efforts. The Consolidated Profit after Tax for FY24 increased by 22% YoY at Rs. 4,468 crores. The contribution of subsidiaries in the Consolidated Profit after tax also increased to 10% from 6% last year underlining the resilience of our diversified business model. With a strong focus on Muthoot Finance’s vision to emerge as a diversified financial services group, FY24 was a year of transformation for us.” 

While Mr. George Alexander Muthoot, Managing Director said, "As part of our transformational journey, in FY24, we also focused on boosting our digital business and tapping new techsavvy millennials and Gen Z customers. 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 regulatory norm of Rs.20,000 cash disbursal limit on our business and volumes will be limited since it is an industry wide move. In alignment with strict vigilance from regulators on the NBFC industry, we also remain committed to maintaining the highest standards of corporate governance and compliance.”

About Muthoot Finance Limited 

Muthoot Finance Limited is one of the leading financial services companies in India, specialising in gold loans. It is the largest gold loan non-banking financial company (NBFC) in the country. The company was founded in 1887 and is headquartered in Kochi, Kerala. The company also offers housing finance, SME loans, vehicle loans, and corporate loans in addition to various insurance products, including health, home, vehicle, life, and travel insurance, along with mutual funds and non-convertible debentures.