Standalone & Consolidated Loan Assets of Muthoot Finance Ltd
Muthoot Finance Ltd Consolidated Loan Assets under management achieved a YoY increase of 19% at Rs.36446crs as against last year of Rs. 30717crs. During the quarter, Consolidated Loan Assets under management increased by 1% of Rs.490 crs.
| Q3FY19 | YoY (%) | Q2FY19 | QoQ(%) | Q1FY19 | FY 18 | YTD (%) | ||
| Consolidated Gross Loan Assets of the Group* (Rs. In crores) | 36497 | 19% | 35956 | 2% | 34316 | 32159 | 13% | |
| Gross Loan Assets of Muthoot Finance(Rs. In crores) | 32470 | 15% | 32319 | 0% | 30997 | 29142 | 11% | |
| Gross Loan Assets of Subsidiaries(Rs. In crores) | 4027 | 65% | 3637 | 11% | 3319 | 3017 | 33% | |
| Contribution of Subsidiaries in the Consolidated Gross Loan Assets of the Group* | 11% | 10% | 10% | 9% | ||||
| Group Branch Network | 4882 | 7% | 4765 | 2% | 4688 | 4596 | 6% |
Muthoot Finance Ltd (MFIN), the largest gold financing company in India in terms of loan portfolio, registered an increase in net profit of 15%, at Rs.1460crs for 9MFY19as against Rs.1269crs in the previous year. Loan Assets stood at Rs.32470crs as at December 31, 2018 as against Rs.28269crs as at December 31,2017, Y-o-Y growth of 15%. During the quarter, Loan Assets increased by Rs. 151crs.
Muthoot Homefin (India) Ltd (MHIL) , the wholly owned subsidiary , increased its loan portfolio to Rs.1835crs as against previous year of Rs.1100crs , a YoY increase of 67%. During the quarter , loan portfolio increased by Rs.60crs , QoQ growth of 3%. Total revenue for Q3FY19 & 9M FY 19 stood at Rs. 57crs & 163crs as against previous year total revenue of Rs.36crs & Rs.81crs. It achieved a net profit of Rs.9crs & Rs.30crs in Q3 FY19 & 9M FY19 as against previous year profit of Rs.8crs & Rs.16crs. Its Gross and Net NPA stood at 0.74% and 0.59% as on December 31,2018.
M/s. Belstar Investment and Finance Private Limited (BIFPL) , an RBI registered micro finance NBFC and Subsidiary Company where Muthoot Finance holds 70.01%stake, grew its loan portfolio to Rs.1563crs as against last year of Rs.945crs, a YoY increase of 65%. During the quarter , loan portfolio increased by Rs.182crs , QoQ growth of 13%. It achieved a profit after tax of Rs.25crs & Rs.56crs during Q3 FY19 & 9M FY19 as against previous year profit after tax of Rs.10crs & Rs.22crs. Its Gross and Net NPA stood at 0.95% and 0.41% as on December 30,2018.
Muthoot Insurance Brokers Pvt Limited (MIBPL), an IRDA registered Direct Broker in insurance products and a wholly owned subsidiary company generated a First year premium collection amounting to Rs.62crs & Rs.179crs during Q3 FY19 & 9M FY19 as against Rs.22crs & Rs.59crs in the previous year. It generated a Profit after Tax of Rs.4crs & Rs.10crs during Q3 FY19 & 9M FY19 as against Rs.3crs & Rs.6crs in the previous year.
The Sri Lankan subsidiary – Asia Asset Finance PLC. (AAF) where Muthoot Finance holds 60% stake, increased its loan portfolio to LKR 1163crs as against last year of LKR 975crs, a YoY increase of 19%. During the quarter, loan portfolio increased by LKR 39crs , QoQ growth of 4%. Total revenue for Q3 FY19 & 9M FY19 stood at LKR 71crs & LKR 209 as against previous year total revenue of LKR 65crs & LKR 188crs. It generated a profit after tax of LKR 1cr & LKR 5crs during Q3 FY19 & 9M FY 19as against previous year profit after tax of LKR 5crs & LKR 14crs.
Muthoot Money Pvt Ltd (MMPL), became a wholly owned subsidiary of Muthoot Finance Ltd in October 2018. MMPL is a RBI registered Non- Banking Finance Company engaged mainly in extending loans for vehicles. The operations are now centered in Hyderabad. Recently, Company has started extending loans for Commercial Vehicles and Equipments. As on 31st December, 2018 it has a total loan portfolio of Rs.187crs.
Commenting on the results M G George Muthoot, Chairman stated, “Third quarter was a turbulent period for all NBFCs because of concerns on liquidity scenario. Muthoot Finance as a responsible company to all the stakeholders acted cautiously and conserved liquidity rather than growth. Hence our loan assets remained flat for the quarter. However , compared to last year our growth was 15% at Rs.32470crs . Profitability increased by 15% for 9 months at Rs. 1460crs. Under IND–AS, stage 3 assets, ie., loans beyond 90days DPD , declined to Rs.637crs(1.96% of Loan Assets) on December 31 , 2018 as against Rs.1287crs(4.42% of Loan Assets) as on March 31, 2018.”
Speaking on the occasion George Alexander Muthoot, Managing Director said, “Considering that gold loans are of short duration of around 3 to 4months, our balance sheet always carry positive ALM. Markets have realised this fact and has shown significant interest in subscribing to our Commercial Paper issuances during the quarter. Our subsidiaries achieved YoY loan growth of 65% reaching Rs. 4027crs as against last year of Rs.2448crs . They are contributing 11% of Group Loan assets. Muthoot Homefin (India) Limited has grown its loan portfolio to Rs.1835crs as against previous year of Rs.1100crs , a YoY increase of 67%. The micro finance subsidiary which has a strong SHG model increased its loan portfolio to Rs. 1563crs as against last year of Rs.945crs, a YoY increase of 65%. The NBFC in Sri Lanka increased its loan portfolio by 19% YoY. First Year Premium collections in the Insurance Broking subsidiary increased by 182% at Rs.62crs during the quarter as against previous year.”
