Muthoot Finance rallied 7.68% to Rs 1,409 after the company's consolidated net profit jumped 22.49% to Rs 1,023.76 crore on 18.43% rise in total income to Rs 3,118.97 crore in Q4 March 2021 over Q4 March 2020.
Profit before tax soared 22.80% to Rs 1,385.15 crore in Q4 FY21 as against Rs 1,127.91 crore in Q4 FY20.During the financial year, Muthoot Finance's consolidated net profit spurted 20.51% to Rs 3,818.87 crore on 19.15% increase in total income to Rs 11,566.41 crore in FY 2021 over FY 2020.
Consolidated Loan AUM climbed 24% to Rs 58,280 crore for FY21 as against FY20. Consolidated gross loan assets of the group surged 24% to Rs 58,280 crore in FY21 from Rs 46,871 crore in FY20. Group branch network rose 2% to 5,451 in FY21 over 5,330 in FY20.
George Jacob Muthoot, one of the promoters of the company was unanimously appointed as the chairperson of the board of directors, a position left behind by late M G George Muthoot due to his untimely demise on 5 March 2021. He is the younger brother of Late M G George Muthoot.
Commenting on the Q4 results, George Jacob Muthoot, the chairman of Muthoot Finance, stated: "As we complete the 10 years of public listing of equity shares through IPO, we are extremely delighted and overwhelmed to note that we have crossed several landmarks in our business parameters. During the year, our long-term credit ratings were upgraded to 'AA+' by CRISIL and ICRA which makes us the only Gold Loan NBFC with a 'AA+' rating from these rating agencies. Our gold loan portfolio crossed Rs 50,000 cr., the total revenue for the year crossed Rs 10,000 cr., profit before tax for the year crossed Rs 5,000 cr. and net worth crossed Rs 15,000 cr., all such landmarks being achieved for the first time in company's history. During the last decade since our IPO, we believe that we have been able to create significant value additions for all our stakeholders at different levels. Being the market leader in our industry we are resolutely confident of continuing our journey in this direction in future too. Following our track record of consistent dividend payout, we declared a dividend of Rs 20 per share for the financial year 2020-21 involving a total payout of Rs 802 cr. in April 2021."
Speaking on the same, George Alexander Muthoot, the managing director of Muthoot Finance, has said that: "We are glad to announce that consolidated loan assets of the group grew by 24% at Rs 58,280 cr. during FY21 as against last year of Rs 46,871 cr. Consolidated profit after tax increased by 21% at Rs 3,819 cr. during FY21 as against last year of Rs 3,169 cr. During the quarter, gold loan portfolio of Muthoot Finance increased by Rs 2,304 cr. to Rs 51,927 cr. Standalone profit of Muthoot Finance for the year ended 31 March 2021 increased by 23% at Rs 3,722 cr. During the quarter, we disbursed fresh loans to 3.61 lakh new customers amounting to Rs 2,753 cr. and to 4.32 lakh inactive customers amounting to Rs 2,917 cr."
Meanwhile the company's board has considered and approved fund raising to the tune of Rs 5,000 crore by way of public issue of redeemable non-convertible debentures in one or more tranches.
Muthoot Finance is the largest gold financing company in India in terms of loan portfolio.
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