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Thursday, 18 June 2020

Muthoot Finance Limited; 51% increase in net profit

Muthoot Finance Ltd on Monday reported a consolidated net profit of Rs 3169 crore for the financial year ended March 2020. 2103 crore, an increase of 51 per cent over the corresponding period last year. Muthoot Group's consolidated loans increased 22 per cent to Rs 46,871 crore from Rs 38304 crore in the same period last year.

Muthoot Finance, the country's largest gold loan company, reported a net profit of Rs 3018 crore, a growth of 53 per cent.The company's revenue was up 27% at Rs 8723 crore.

6881 crore during the same period last year. George Alexander, Managing Director, said, “We expect 15 per cent growth in gold loan portfolio in the current year.
Muthoot Money (Pvt) Ltd, which provides non-banking services including auto loans, has made a loan of Rs 509 crore in the last financial year. 311 crore during the same period last year. Muthoot Finance's other subsidiaries also reported good profit.

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