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Muthoot Finance Ltd has posted a 53 per cent increase in net profit at ₹454 crore for Q2 FY18, against ₹297 crore in the previous year period.
Net profit stood at ₹805 crore, an increase of 42 per cent from ₹567 crore. Loan assets were at ₹27,608 crore as on September 30, against ₹27,852 crore as on June 30.
Muthoot Homefin (India) Ltd , a wholly-owned subsidiary , increased its loan portfolio by ₹234 crore to ₹830 crore during the quarter. For H1 FY18, the loan portfolio grew by ₹389 crore. The total revenue for Q2 and H1 FY18 stood at ₹26 crore (₹3 crore) and ₹45 crore (₹5 crore) respectively.
Belstar Investment and Finance Pvt Ltd, an RBI-registered microfinance NBFC in which Muthoot Finance holds a 64.60 per cent stake, grew its loan portfolio during Q2 and H1 FY18 by 20 per cent and 38 per cent respectively. It achieved a profit after tax of ₹7 crore and ₹12 crore respectively during Q2 and H1 FY18.
Muthoot Insurance Brokers Pvt Ltd generated a first year premium collection amounting to ₹22 crore and ₹37 crore respectively during Q2 and H1 FY18.
The company’s 60 per cent-owned Sri Lankan subsidiary, Asia Asset Finance PLC, increased its loan portfolio during the quarter by 5 per cent and for the half year by 10 per cent at LKR 949 crore. Total revenue stood at LKR 64 crore and LKR 123 crore respectively.
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