Muthoot Microfin Limited updates Business growth for Q4 of FY24

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. 

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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. 

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Further, 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. 

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