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Muthoot Finance Q4 net profit up 22% at Rs 996 cr; loan assets up 26%


The company had posted a standalone profit after tax of Rs 815 crore in the year-ago period.
For the full year, the standalone net profit rose by 23 per cent to Rs 3,722 crore as against Rs 3,018 crore in FY20.
We have seen good business growth during the last year, especially in the second and the third quarters. After the pandemic, there was a lot of demand for gold loans.
Everybody wanted to restart their business and wanted quick funding, which is why the demand for gold loans grew, its Managing Director George Alexander Muthoot said.
The lender was able to grow its asset under management (AUM) in gold loan segment by 27 per cent in FY21 compared to a growth of 22 per cent in the previous year. ....

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Muthoot Group: Kerala gold loan company's glitter marred by personal tragedies


Muthoot Group: Kerala gold loan company’s glitter marred by personal tragedies
© Jagyaseni Biswas
Muthoot Group: Kerala gold loan company’s glitter marred by personal tragedies
The business of offering loans using gold as collateral has mushroomed across the country in recent years. But nowhere has this business been as enmeshed in the social fabric of a people than in Kerala. And no company in Kerala has been so closely identified with this business than the Muthoot group.
Sample this: about 90 per cent of the contribution to the group’s consolidated loan assets is from Muthoot Finance, the flagship company that focusses on the gold loan business, according to its latest investor presentation.  Around 90 per cent of the Muthoot Finance assets are in gold loans. ....

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