Its full year profit swells 2.74x
Mumbai, 6 May 2024: Muthoot Microfin Limited (NSE: MUTHOOTMF, BSE: 544055), among India’s leading Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), focused on providing micro-loans to women entrepreneurs with a focus on rural regions of India, today announced its audited financial performance for the fourth quarter and twelve months of the financial year 2023-24.
Business Highlights: FY24
· GLP grew by 32.42% YoY from Rs. 9,208.30 crore to Rs. 12,193.50 crore; company reports highest ever disbursement of Rs. 10,661.59 crore
· MML Forays into Telangana; operating in 19 states with 353 districts
· Borrower base grew by 20.92% YoY from 27.73 lakhs to 33.53 lakhs across 1,508
branches. The branch count grew by 28.67% YoY
· Concluded a landmark ECB deal, raising USD 75 million (Rs. 622 crores) from multiple international banks
· Recognized as the "Microfinance Company of the Year" at the prestigious ET Business Awards 2024.
· Credit Rating: A+/Stable and grading M1C1 by CRISIL
Financial Highlights: FY24
· Total income increased by 58.02% YoY from Rs. 1,446.34 crore to Rs. 2,285.49 crore
· Net interest income (NII) increased by 55.66% YoY from Rs. 874.40 crore to Rs. 1,361.10 crore
· Pre-provision operating profit (PPOP) increased by 75.11% YoY from Rs. 436.19 crore to
Rs. 763.80 crore
· Profit After Tax (PAT) increased by 174.32% YoY from Rs. 163.89 crore to Rs. 449.58 crore
· The GNPA of the Company is at 2.29% as against GNPA of 2.97% a year ago, NNPA stood at 0.35% as against 0.60% last year. The GNPA improved by 68 bps and NNPA by 25 bps. Collection Efficiency at 98.4% up 260 bps
· Robust liquidity of Rs. 957.66 crore of unencumbered cash and cash equivalents, 8.26% of the total assets alongside unutilized sanctions totalling Rs. 2,119 crores.
· Healthy capital position with a CRAR of 28.97%
· 26.33% of our collections are via digital channels such as UPI/Customer App, while 100% disbursements are entirely executed digitally.
Financial Highlights: Q4 FY24
· Total income increased by 45.80% YoY from Rs. 448.17 crore to Rs. 653.42 crore
· Net interest income (NII) increased by 47.02% YoY from Rs. 272.11 crore to Rs. 400.06 crore
· Pre-provision operating profit (PPOP) increased by 62.66% YoY from Rs. 150.09 crore to Rs. 244.14 crore
· Profit After Tax (PAT) increased by 26.65% YoY from Rs. 94.56 crore to Rs. 119.76 crore
