Muthoot Microfin Q4 Results: Profit jumps 27% to Rs 120 crore

Kolkata: Muthoot Microfin's net profit soared to Rs 120 crore for the quarter to March 31, registering a 27% rise year-on-year, backed by a 47% jump in net interest income at Rs 400 crore.

The non-banking financial company-micro finance institution (NBFC-MFI), which is a part of the Kerala-based Muthoot Pappachan group, saw its gross loan portfolio expanded by 32.4% year-on-year to Rs 12,194 crore while it reported the highest ever disbursement of Rs 10,661.59 crore.

Its net interest margin for the quarter was at 13.52%, 65 basis points more than what it was in the year-ago period.


Its total income was 46% higher at Rs 653 crore while operating profit for the quarter stood at Rs 244 crore, up 63% against the year-ago quarter print.


The company said its credit cost in FY24 fell to 1.7% from 3% in the preceding fiscal as asset quality remains robust and collection efficiency improved.

"The notable improvement in our NPA figures, with net NPA standing at 0.35%, reflects our steadfast commitment to maintaining a robust and healthy loan portfolio," chief executive Sadaf Sayeed said.