Muthoot Microfin Q1 Results: Net profit rises 18% YoY to Rs 113 crore

Kolkata: Muthoot Microfin reported a 18% year-on-year rise in June quarter net profit at Rs 113 crore against Rs 96 crore in the year-ago period, backed by healthy earnings growth.

The lender's total income grew 33.5% at Rs 641 crore. Pre-provision operating profit was 50.4% higher at Rs 223 crore. Its net interest margin for the quarter rose to 13.29% against 12.05% in the year-ago period.

The lender’s assets under management expanded 22% to Rs 12210 crore at the end of June with gross non-performing assets ratio falling to 2.1% from 2.75% a year back.


"Our NIMs remain steady and we have passed two consecutive rate cut benefits during 2024 to our customers. Our cost of borrowings too has improved sequentially and incremental cost stands at healthy 10.3%," said Sadaf Sayeed, chief executive of Muthoot Microfin.