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Muthoot Finance posts 22% rise in net profit in Q4 of FY21 - The Hindu BusinessLine


Muthoot Finance posts 22% rise in net profit in Q4 of FY21
June 02, 2021
George Jacob Muthoot, Chairman, Muthoot Finance×
George Jacob Muthoot appointed as the Chairperson of the Board of Directors
Gold loan lender Muthoot Finance Ltd has registered a 22 per cent increase in its net profit in Q4 of FY21 at ₹996 crore against ₹815 crore in the corresponding period of the previous year. The net profit for the whole year went up to ₹3,722 crore against ₹3,018 crore, an increase of 23 per cent.
Gold loan assets up by ₹2304 crore
Loan assets stood at ₹52,622 crore as on March 31, 2021 against ₹41,611 crore as on March 31, 2020, a growth of 26 per cent. During the quarter, gold loan assets increased by ₹2,304 crore. ....

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Muthoot Group: Kerala gold loan company's glitter marred by personal tragedies


Muthoot Group: Kerala gold loan company’s glitter marred by personal tragedies
© Jagyaseni Biswas
Muthoot Group: Kerala gold loan company’s glitter marred by personal tragedies
The business of offering loans using gold as collateral has mushroomed across the country in recent years. But nowhere has this business been as enmeshed in the social fabric of a people than in Kerala. And no company in Kerala has been so closely identified with this business than the Muthoot group.
Sample this: about 90 per cent of the contribution to the group’s consolidated loan assets is from Muthoot Finance, the flagship company that focusses on the gold loan business, according to its latest investor presentation.  Around 90 per cent of the Muthoot Finance assets are in gold loans. ....

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Muthoot Finance Ltd.: Muthoot Finance Q3 results: Net profit rises 22% to Rs 991 cr


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MUMBAI: Gold loan financier Muthoot Finance Ltd (MFIN) on Tuesday reported a 22 per cent jump in standalone profit after tax at Rs 991.4 crore for the quarter ended December 2020.
The company had posted a profit of Rs 815.2 crore in the year-ago period.
On a consolidated basis, its profit after tax rose to Rs 1,006.7 crore from Rs 861 crore in the same quarter of the previous fiscal.
Total income grew 20 per cent to Rs 2,777 crore from Rs 2,321 crore earlier.
The growth during the quarter was very good. Our standalone loan assets. has crossed the landmark of Rs 50,000 crore. Our active customers presently having a loan account also crossed the landmark of 50 lakh customers, the company s Managing Director George Alexander Muthoot said. ....

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