Money & Banking

Muthoot Finance Q3 profit rises 46%

Our Bureau Kochi | Updated on February 14, 2020 Published on February 14, 2020

Muthoot Finance has registered a 46 per cent growth in net profit at ₹803 crore in Q3 of FY20 against ₹485 crore in the corresponding period of the previous year.

Loan assets

For the nine months of FY20, the net profit touched ₹2,191 crore against ₹1,461 crore in the previous year. Loan assets stood at ₹38,498 crore as of December 31, 2019, against ₹32,470 crore as of December 31, 2018. During the quarter, gold loan assets increased by ₹2,783 core.

Muthoot Homefin India achieved a PAT of ₹11 crore in Q3 FY20 and ₹31 crore in the first nine months of the financial year against the previous year’s profit of ₹9 crore and ₹30 crore.

Belstar Microfinance achieved a PAT of ₹26 crore in Q3 FY20 and ₹77 crore in the first nine months of the financial year against the previous year’s PAT of ₹24 crore and ₹53crore.

“We are glad to announce that consolidated loan assets of the group grew by 21 per cent at ₹43,436 crore during the first nine months of FY20 against last year’s ₹35,939 crore. Consolidated profit increased by 49 per cent at ₹2,321 crore in the first nine months of FY20 against last year’s ₹1,554 crore.

“During the quarter, gold loan portfolio of Muthoot Finance increased by ₹2,783 crore to ₹37,724 crore. The standalone profit of Muthoot Finance for the first nine months ended December 31 increased by 50 per cent at ₹2,191 crore.”

Published on February 14, 2020
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