Muthoot Microfin Limited updates Business growth for Q4 of FY24
New Delhi: Throughout the quarter and fiscal year ending on March 31, 2024, Muthoot Microfin Limited observed substantial growth. According to the financial company, FY24 marked a healthy mix of credit expansion, rising margins and declining credit costs. Asset quality remained robust during the year.
Assets under Management (AUM): AUM expanded by 32% year-over-year (YoY), reaching Rs. 12,194 crore as of March 31, 2024, compared to Rs. 9,208 crore as of March 31, 2023.
Disbursement: Disbursement surged by 32% YoY to Rs. 10,662 crore during the fiscal year 2023-24, up from Rs. 8,104 crore in the fiscal year 2022-23. Crossed highest-ever disbursement in a single fiscal year.
Join PSU Connect on WhatsApp now for quick updates! Click here
Read Also : NMDC Appoints G. Anupama as Whole-Time CFO Effective July 2025
Collection Efficiency: Collection Efficiency stands at 98.4% for the fiscal year 2023- 24, up 260 bps from 95.8% in the fiscal year 2022-23.
Funds Raised report shows, Funds availed Rs. 9,242 crore through various instruments during the fiscal year 2023-24. The Company has un-availed sanctions of 2,112 Crores during the closure of the Financial Year.
Read Also : US Economy Beats Forecasts with 147,000 New Jobs in June, Dimming Hopes of Rate CutsFurther, the company recently concluded a landmark ECB deal, raising USD 75 million (Rs. 622 crores) from multiple international banks. The deal provides cheaper funds and also helps in achieving a better asset-liability mix with a 3.3-year loan timeframe.
Total branch count 1,508 growing by 29% YoY opening doors to financial inclusion and empowering lives. It had also entered Telangana and expanded its footprint in many states including Uttarakhand and Himachal.
Active Customers: The active customer count expanded by 21% YoY, reaching 33.5 lakh customers as of March 31, 2024, compared to 27.7 lakh customers as of March 31, 2023. Added 10.0 lakh new customers to Muthoot Microfin during the fiscal.
Read Also : Bank of Baroda Global Deposits surge by 9.13 pc as of 30th Jun