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Sunday, June 13, 2021

Muthoot Finance Q4 net profit rises 22.14% to Rs 995.66 crore

Muthoot Finance reported a standalone profit of Rs 3,722.18 crore in 2020-21 (FY21), up 23.32 per cent from 3,018.30 crore in 2019-20 (FY20), the company informed in an exchange filing to the BSE.

By: Express Web Desk | New Delhi |
Updated: June 2, 2021 5:15:11 pm
Muthoot Finance had a standalone net profit of 991.37 crore during the quarter ended December 2020. (Express photo by Praveen Khanna)

Muthoot Finance on Wednesday declared a standalone net profit of Rs 995.66 crore during the quarter ended March 2021 (Q4), up 22.14 per cent from 815.15 crore a year ago. The gold financing company had a standalone net profit of 991.37 crore during the December quarter.

For the financial year 2020-21 (FY21), Muthoot Finance reported a standalone profit of Rs 3,722.18 crore, up 23.32 per cent from 3,018.30 crore in 2019-20 (FY20), the company informed in an exchange filing to the BSE.

Apart from this, the company’s standalone loan AUM increased 26 per cent year-on-year to Rs 52,622 crores in FY21. During the quarter (Q4), gold loan assets increased by Rs. 2,304 crore, the company said.

The company appointed George Jacob Muthoot, one of the promoters, as the chairperson of the Board of Directors. The position was left vacant following the death of MG George Muthoot on March 5, 2021. George Jacob is the younger brother of MG George, the company statement said.

In April 2021, Muthoot Finance also declared a dividend of Rs 20 per share for FY21. The company said that it will involve a total dividend payout of Rs 802 crore.

In the company statement, Muthoot Finance Managing Director George Alexander Muthoot said, “During the quarter, we disbursed fresh loans to 3.61 lakh new customers amounting to Rs 2,753 crore and to 4.32 lakh inactive customers amounting to Rs 2,917 crore.”

The shares of Muthoot Finance ended 8.06 per cent higher at Rs 1,414.00 on the BSE, while the scrip climbed 8.88 per cent to settle at Rs 1,425.15 on the National Stock Exchange (NSE).

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