Muthoot Finance Q4 PAT increases 17% to ₹1,056 crore 

Muthoot Finance Ltd has posted 17 per cent growth in Q4 PAT at ₹1,056 crore, against ₹903 crore. PAT in the full yearFY24 was ₹4,050 crore, against ₹3,474 crore in FY23.

Loan AUM stood at ₹75,827 crore in FY24, compared to ₹63,210 crore in FY23, registering 20 per cent growth. During FY24, gold loan assets increased by ₹11,003 crore, registering 18 per cent. During the quarter, gold loan assets increased by ₹3,657 crore, up five per cent.

George Jacob Muthoot, Chairman, said: “Despite the various industry hiccups, we have continued to maintain our position as a leader in the gold loan industry and capitalised on strong growth opportunities in affordable housing, microfinance, personal loans, small business loans, and vehicle finance. Further robust domestic consumption, a growing middle-class segment, and rising aspirations provide ample opportunities for future growth. We begin FY25 on a positive note and will continue to grow the share of non-gold loan subsidiaries to 18-20 per cent in the next five years.”

George Alexander Muthoot, Managing Director, said: “As part of our transformational journey in FY24, we focused on boosting our digital business and tapping new tech-savvy millennials and Gen Z customers. Our phygital strategy has yielded positive results with critical infrastructure in place to move the remaining gold and non-gold customers to digital channels. We are confident that the impact of the regulatory norm of ₹20,000 cash disbursal limit on our business and volumes will be limited since it is an industry-wide move. In alignment with strict vigilance from regulators on the NBFC industry, we remain committed to maintaining the highest standards of corporate governance and compliance.”