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Muthoot Finance Group Loan Assets Under Management reaches landmark level of Rs.30712 crores

Published in Corporate Thursday, 08 February 2018 17:41

 

 Highest Quarterly PAT of Rs.464 crores
 
 
 
Muthoot Finance Ltd consolidated Gross Loan Assets under management of the Group achieved a YoY increase of 10% at Rs.30712crs as against last year of Rs. 28005crs.
 
     Q3 FY18    Q3 FY17    Y-o-Y (%)    Q2 FY18    Q-o-Q (%)    FY 17    YTD (%)
Consolidated Gross Loan Assets of the Group* (Rs. In crores)    30712    28005    10%    29636    4%    28661    7%
Contribution of Subsidiaries in the Consolidated Gross Loan Assets of the Group*     8%    4%    -    7%    -    5%    -
*Muthoot Finance Ltd and its 3 subsidiaries involved in lending business. Figures of subsidiaries are unaudited.
 
Muthoot Finance Ltd (MFIN), the largest gold financing company in India in terms of loan portfolio, registered an increase in net profit of 59%, at Rs. 464crs for Q3 FY18 as against Rs. 291crs in the previous year. The net profit for 9M FY18 stood at Rs.1269crs an increase of 48% as against last year of Rs.858crs. Loan Assets stood at Rs. 28265crs at Dec 31, 2017 as against Rs.27608crs as at Sep 30 ,2017.
 
Muthoot Homefin (India) Ltd (MHIL), the wholly owned subsidiary, increased its loan portfolio by Rs. 270crs at Rs. 1100crs during the quarter. For 9M FY18 , loan portfolio grew by Rs.659crs. Total revenue for Q3 FY18 & 9M FY18 stood at Rs. 36crs & Rs. 81crs as against previous year total revenue of Rs.6cr & 11cr respectively. It achieved a net profit of Rs. 8crs & Rs.16crs in Q3 FY18 & 9M FY18 as against previous year profit of Rs.92lakhs and Rs.74 lakhs.
M/s. Belstar Investment and Finance Private Limited (BIFPL) , an RBI registered micro finance NBFC and Subsidiary Company where Muthoot Finance holds 64.60% stake., grew its loan portfolio during Q3 FY18 & 9M FY18 by 19% & 64% respectively reaching Rs. 945crs. It achieved a profit after tax of Rs.10crs & Rs.22crs during Q3 FY18 & 9MFY18 as against previous year profit after tax of Rs.2crs & Rs.7crs. Its Gross and Net NPA stood at 0.84% and 0.37% respectively as on Dec 31,2017.
Muthoot Insurance Brokers Pvt Limited (MIBPL), an IRDA registered Direct Broker in insurance products and a wholly owned subsidiary company generated a First year premium collection amounting to Rs. 22crs & Rs.59crs during Q3 FY18 & 9M FY18 as against  Rs. 15crs & Rs.44crs  in the previous year respectively.
 
The Sri Lankan subsidiary - Asia Asset Finance PLC. (AAF) where Muthoot Finance holds 60% stake, increased its loan portfolio during the quarter by 3% and for 9M by 13% at LKR 975crs. Total revenue for Q3 FY18 & 9M FY18 stood at LKR 65crs & LKR 188crs as against previous year total revenue of LKR 57crs & LKR 155crs. It generated a profit after tax of LKR 5crs & LKR 14crs during Q3 FY18 & 9M FY18 as against previous year profit after tax of LKR 8crs & LKR 19crs.
Commenting on the results M G George Muthoot, Chairman stated, “Another historic record performance with 59% increase in net profits at Rs.464crs. Considering the performance of the Company in 9months , Board is glad to announce highest ever dividend of 100% ie., Rs. 10/- per equity share. The consolidated loan book of the group has increased by 10% Y-o-Y at Rs.30712crs continuing with diversification activities.”
 
Speaking on the occasion George Alexander Muthoot, Managing Director said, “Our subsidiaries have again shown an excellent performance. Muthoot Homefin (India) Limited has grown its loan portfolio by Rs.270crs for the 9 months reaching Rs.1100crs.  The micro finance subsidiary which has a strong SHG model increased its loan portfolio by 64% during the 9 months reaching Rs.945crs. The NBFC in Sri Lanka increased its loan portfolio by 13% during the 9 months.  First Year Premium collections in the Insurance Broking subsidiary increased by 34% at Rs.59crs. The rise in NPA accounts in Muthoot Finance is mainly on account of more time given to customers for repayment on our shorter tenor loans of 6months which became NPA faster than our conventional loan tenor of 12months. Company is currently maintaining increased standard asset provision of 1.25% higher than the regulatory requirement of 0.35%.”
 
Financial Highlights (MFIN):
 
     Q3 FY18    Q2 FY18    Q1 FY18    Q3 FY17    YoY %    QoQ %    9M FY18    9M FY17    YoY %    FY17
     (Rs.in Crs)    (Rs.in Crs)    (Rs.in Crs)    (Rs.in Crs)    Change    Change    (Rs.in Crs)    (Rs.in Crs)    Change    (Rs.in Crs)
Total Income    1567    1670    1399    1346    16%    -6%    4635    4033    15%    5747
Profit Before Tax    720    753    552    446    61%    -4%    2025    1332    52%    1921
Profit After Tax    464    454    351    291    59%    2%    1269    858    48%    1180
Earnings Per Share(Basic) Rs.    11.61    11.36    8.79    7.29    59%    2%    31.76    21.50    48%    29.56
Loan Assets    28265    27608    27852    26962    5%    2%    28265    26962    5%    27278
Branches    4303    4287    4285    4308    -0.1%    0.4%    4303    4308    -0.1%    4307
 
     Q3 FY18    Q2 FY18    Q1 FY18    Q3 FY17    9MFY18    9MFY17    FY17
Return on Average  Loan assets    6.64%    6.54%    5.12%    4.28%    6.10%    4.37%    4.47%
Return on Average Equity    24.54%    25.60%    20.98%    18.37%    23.65%    18.91%    19.44%
Book Value Per Share (Rs.)    194.59    183.16    171.76    162.15    194.59    162.15    162.98
 
     Q3 FY18    Q2 FY18    Q1 FY18    Q3 FY17    FY17
Capital Adequacy Ratio    27.65%    26.49%    25.61%    24.66%    24.88%
Share Capital & Reserves (Rs. in Crs)    7790    7324    6868    6482    6516
 
Business Highlights (MFIN):
 
Particular    9M FY 18    9M FY 17    Growth (YoY)
Branch Network    4303    4308    -0.1%
Gold Loan Outstanding (Rs. in Cr)    28097    26902    4%
Credit Losses (Rs. in Cr)    12.76    6.23    105%
% of Credit Losses on Gross Loan Asset Under Management     0.045%    0.023%    96%
Average Gold Loan per Branch (Rs. In Cr)    6.53    6.24    5%
No. of Loan Accounts (in lakh)    76    73    4%
Total Weight of Gold Jewellery pledged (in tonnes)    154    147    5%
Average Loan Ticket Size    37069    36753    1%
No. of employees    22933    24150    -5%
 

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