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India s Muthoot Finance posts bigger-than-expected profit on strong loan growth
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Microfinance arm may hit IPO market in next 12 months: Muthoot Finance MD
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Non-gold loans account for 13 percent of the NBFC s book now. Non-gold loan businesses in subsidiaries continue to do well, with disbursements during the first half of the year increasing by 76% in the microfinance business and by 164% in the housing finance business, Muthoot said.
The consolidated loan AUM grew 11 per cent YoY to Rs 71,497 crore in FY23, compared to Rs 64,494 crore last year. During the quarter, consolidated loan assets under management increased by 10 per cent. Consolidated profit after tax increased by 8 per cent to ₹1,009 crore as against Rs934 crore last quarter.
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