Muthoot Finance Reports Highest-ever Gold Loan Disbursement Of Rs 51,850 Cr In Q4
Gold financing company, Muthoot Finance on Friday reported a highest-ever quarterly gold loan disbursement of Rs. 51,850 crore for the fourth quarter that ended as of March 2023.
The company’s gold loan grew by Rs 5,051 crore following an all-time highest interest collection of Rs 2,677 crore for the Q4 FY 2023. Subsequently, its loan and gold loan assets grew at Rs 5,479 crore and Rs.5,051 crore in Q4 FY23 respectively.
Muthoot Finance's consolidated loan AUM stood at Rs. 71,497 crores, up by 10 per cent QoQ and consolidated profit after tax stood at Rs. 1,009 crores for Q4 FY23, up by 8 per cent QoQ.
The gold financer further marked a standalone loan AUM at Rs. 63,210 crores, up by 9 per cent QoQ and standalone profit after tax at Rs. 903 crores for Q4FY23.
Commenting on the company’s performance, George Jacob Muthoot, Chairman of Muthoot Group said, “We achieved the highest ever consolidated loan assets growth in any Q4 of Rs. 5,479 crores. Consolidated Profit after tax for Q4 stood at Rs 1,009 crores. Our vision is to remain a leader in gold loan business and at the same time cater to a large customer base with various loan products to meet their varied requirements.
In this process, we expect to grow the loan book by 10 to 15 per cent during FY 24. We continue to engage in various social projects and has spent Rs.96 crore under CSR during FY23. We continue to share the profits generated during the year to our shareholders by paying an interim dividend of 220 per cent, Rs 22 per equity share of Rs 10 each which involved a total pay-out of Rs 883 crore, he added.
