Muthoot Finance net up 5.6% to Rs 4,031 cr in FY22

Muthoot Finance has posted a 1.75% decline in its consolidated net profit to Rs 1,006 crore for the fourth quarter FY22.

Published: 28th May 2022 07:12 AM  |   Last Updated: 28th May 2022 07:12 AM   |  A+A-

Image used for representational purpose only. (File Photo)

Image used for representational purpose only. (File Photo)

By Express News Service

BENGALURU:  Muthoot Finance has posted a 1.75% decline in its consolidated net profit to Rs 1,006 crore for the fourth quarter FY22. Its net profit was Rs 1,024 crore in the same quarter last year. However, for the full fiscal FY22, the net profit increased by 5.6% to Rs 4,031 crore. The company had reported Rs 3,819 profit in FY21. The company’s total income in Q4FY22 stood at `3,041 crore, a 2.5% decline from Rs 3,119 crore in the year-ago period. 

George Jacob Muthoot, Chairman said, “Despite the ongoing geopolitical crisis and covid related base challenges, Muthoot Finance has delivered a consistent performance in this quarter and was able to achieve a consolidated AUM of Rs 64,494 crore, registering a growth of 11% Y-o-Y.” He added that as the economy is gradually recovering, the demand for gold loans has been steady and that they remain optimistic for the coming financial year.

“With Indian households owning the world’s biggest private stock of gold, and only about 10% in the organised gold loan market space including gold loan companies, there is a huge untapped opportunity in the gold loan sector,” the chairman said.

Its gold loan AUM grew 11% during FY22 and the company is optimistic about growth of 12-15% in gold loan AUM for FY23. Muthoot Finance in a regulatory filing said it has declared a dividend of 200% on face value of shares of Rs 10 each, involving a payout of Rs 803 crore.



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