Muthoot Finance Q2 Results: Net profit stood at Rs 1,002 crore in the September quarterNon-banking financial company (NBFC) Muthoot Finance reported a net profit of Rs 1,002 crore on a consolidated basis, compared to Rs 930.7 crore, marking a growth of eight per cent year-on-year.
The Kerala-based lender's consolidated loanassets under managementincreased five per centon a sequential basis to Rs 60,919 crore in the second quarter of the current fiscal.The demand environment remains strong and as we enter the festive season we remain optimistic about growth momentum in gold loan over the second half of FY22.
We are optimistic about growing our gold loan book further and maintain 15 per centgrowth guidance for FY22.We are witnessing improved collections across micro finance, vehicle finance and home loans,'' said Mr George Alexander Muthoot, Managing Director, Muthoot Finance.The company recently launched a customer centric AI-powered virtual assistant 'Mattu' - avirtual assistant which enables users to apply for loans, address queries and perform transactions such aschecking account balance, paying gold loan interest, availing loan top-ups, making part payments, among others.''....our consolidated loan AUM stood at Rs.60,919 crores as of end September 2021, clocking a growth of five per centQoQ and a growth of 17 per centYoY despite a challenging business environment....The contribution of our subsidiaries to the overall consolidated AUM stands steady at 10 per cent.
As a responsible NBFC, we have been consistently working towards an overall growth strategy focusing on governance, performance and ESG framework,'' said MrGeorge Jacob Muthoot, Chairman, Muthoot Group.On Thursday, November 6, shares of Muthoot Finance settled 0.75 per cent higher at Rs 1,530.10 apiece on the BSE.