Muthoot Fin records highest-ever loan disbursement in FY24 at Rs 61,703 crore

Muthoot FinCorp has recorded the highest-ever loan disbursements in FY24 which rose 18.6 percent to Rs 61,703.26 crore on a consolidated basis.

 The consolidated net profit of the company rose 62 per cent to Rs 1,047.98 crore in FY24, Muthoot FinCorp said in a statement.

"Muthoot FinCorp Ltd, the flagship company of 137-year-old Muthoot Pappachan Group, reports highest-ever loan disbursements in FY24 with consolidated disbursement at Rs 61,703.26 crore, up 18.60 percent," the statement said.

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On a standalone basis, Muthoot FinCorp's disbursements rose 15 percent year-on-year to Rs 50,167.12 crore from Rs 43,443.26 crore in the previous year.  The profit after tax (PAT) increased 22.40 percent to Rs 562.81 crore compared to Rs 459.81 crore in FY23.

The assets under management (AUM) of the company stood at Rs 21,712.34 crore, up 23.26 per cent compared to Rs 17,615.07 crore in the year-ago period.

 Revenue is at Rs 1,197.31 in the March quarter of FY24, posting a growth of 25.59 percent, compared to Rs 953.38 crore in the year-ago period.

As of March 31, 2024, the customer base stood at over 42.98 lakh, a 14 percent increase compared to the previous financial year.

 

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