Muthoot FinCorp on May 21 said it has recorded highest-ever loan disbursements in FY24 that rose 18.6% to ₹61,703.26 crore on a consolidated basis.
The asset under management (AUM) stood at ₹33,359.30 crore. The consolidated net profit rose 62% to ₹1,047.98 crore in FY24, Muthoot FinCorp said in a statement.
"Muthoot FinCorp Ltd, the flagship company of 137-year-old Muthoot Pappachan Group, reports highest-ever loan disbursements in FY24 with consolidated disbursement at Rs 61,703.26 crore, up 18.60 per cent," the statement said.
On a standalone basis, Muthoot FinCorp's disbursements rose 15% year-on-year to ₹50,167.12 crore from ₹43,443.26 crore in the previous year.
The profit after tax (PAT) increased 22.40% to ₹562.81 crore compared to ₹459.81 crore in FY23.
The assets under management (AUM) of the company stood at ₹21,712.34 crore, up 23.26% compared to ₹17,615.07 crore in the year-ago period.
Its revenue was at ₹1,197.31 in the March quarter of FY24, posting a growth of 25.59%, compared to ₹953.38 crore in the year-ago period.
As of March 31, 2024, Muthoot FinCorp's customer base stood over 42.98 lakh, a 14% increase compared to the previous financial year.
Muthoot FinCorp CEO Shaji Varghese said 81% of its customers availed of loans below ₹1 lakh.
"We look forward to continue serving lower middle-income families alongside focusing on financial inclusion driven from our Purpose of transforming the lives of the common man by ensuring his financial well-being,” Varghese said.
