Gold loan lender Muthoot Finance has posted a 59 per cent growth in net profit in Q4 of FY20 at ₹815 crore, compared to ₹512 crore in the corresponding period of the previous fiscal. The net profit for the whole year posted a 53 per cent growth at ₹3,018 crore in FY20 against ₹1,972 crore in the previous year. Loan assets stood at ₹41,611 crore as of March 31 against ₹34,246 crore in the previous year. During the quarter, gold loan assets increased by ₹3,113 crore.

“We are glad to announce that consolidated loan assets of the group grew by 22 per cent at ₹46,871 crore during FY20 against last year’s ₹38,304 crore. Consolidated profit increased by 51 per cent at ₹3,169 crore against last year’s ₹2,103 crore. During the quarter, gold loan portfolio increased by ₹3,113 crore to ₹41,611 crore. Standalone profit for the year ended March 31increased by 53 per cent at ₹3,018 crore,” said MG George Muthoot, Chairman.

George Alexander Muthoot, Managing Director, said: “The company could open majority of its branches since April 20 and, as of now, all branches are functioning normally. Disbursements and collections have normalised, and we are expecting increase in disbursement once movement of people increases and economic activity picks up. The company continues to maintain adequate liquidity to meet all repayment obligations. We have been able to raise fresh commercial paper, NCDs, bank limits etc. We are looking to grow gold loan business by about 15 per cent for the whole year.”

Muthoot Homefin (India) Ltd achieved a net profit of ₹32 crore in FY20. Its Stage III Asset on Gross Loan Asset as on March 31 stood at 1.71 per cent.

Belstar Microfinance Limited, subsidiary company, achieved a profit after tax of ₹99 crore in FY20 against previous year’s ₹73 crore.

Muthoot Insurance Brokers Pvt Ltd generated a total premium collection amounting to ₹323 crore in FY20 and earned a PAT of ₹11 crore.

The Sri Lankan subsidiary, Asia Asset Finance PLC, generated a profit after tax of LKR 7 crore in FY 20.

Muthoot Money Pvt Ltd, the non-banking finance company engaged mainly in extending loans for vehicles, has increased its total revenue for FY20 at ₹70 crore against the previous year’s total revenue of ₹16 crore.