Latest News Releases

Muthoot Group
Source Name: Muthoot Group

Muthoot Finance Ltd Q1 FY 2015 Results

Aug 11, 2014   17:28 IST 
New Delhi, Delhi, India

 Editors Synopsis

 For first Quarter  ended June 30 ,2014

 

Q1 FY 15

Q4 FY 14

Q1 FY 14

QoQ Change

YoY Change

Total Income (Rs. in Crs.)

1092

1159

1286

-6%

-15%

Profit Before Tax (Rs. in Crs.)

273

278

293

-2%

-7%

Profit After Tax (Rs. in Crs.)

180

181

194

-1%

-7%

Earnings Per Share (Rs.)- Basic

4.63

4.87

5.22

-5%

-11%

Gold Loan Portfolio

21305

21618

25442

-1%

-16%

 

 

 

 

 

 

Q1 FY 15

Q4 FY 14

Q1 FY 14

 

Return on Average Retail Loans

3.33%

3.26%

2.97%

 

Return on Average Equity

15.79%

17.26%

20.24%

 

Book Value Per Share (Rs.)

122.45

114.73

105.57

 

 

 

 

Q1 FY 15

Q4 FY 14

Q1 FY 14

 

Capital Adequacy Ratio

26.79%

24.69%

20.77%

 

Share Capital & Reserves(Networth)(Rs. in Crs)

4862

4265

3929

 

   

 

Muthoot Finance Ltd, the largest gold financing company in India in terms of loan portfolio, declared a net profit of Rs.180crs in the first quarter of FY15. Total income stood at Rs.1092crs. The company’s standard asset provisioning stands at 0.46% at the end of the quarter against regulatory requirement of 0.25%.

Commenting on the results M G George Muthoot, Chairman stated “Company’s performance during the quarter is a clear sign that the business model is capable of overcoming the adversities and deliver consistent results. The commitment and focus of the company in the business should benefit the stakeholders at large going forward.”

Speaking on the occasion George Alexander Muthoot, Managing Director said “Company could deliver stable results during the quarter in terms of business as well as profitability. The de-growth in gold loan portfolio has further reduced to Rs.313crs as compared to Rs.645crs in Q4 FY14.  Profit after tax  has remained stable QoQ and would have been higher by around Rs.7crs but for the increased depreciation on account of change in depreciation calculation method based on useful life as per the new Companies Act, 2013 provisions. On operational front, we have re-activated branches after almost two years of turbulent and inactive period and we are seeing positive results at grass root level. We are witnessing customers, who left us to unorganized sector in search of better deal, coming back and availing loans from us.  We are reorienting ourselves to deal with gold loan as a ‘push’ product rather than as a ‘pull’ product which was the approach till now. We expect the business to improve in the coming quarters. Further, as a prudent provisioning policy, Company is maintaining a higher standard asset provisioning of 0.46% against regulatory requirement of 0.25%”    

Business Highlights:

Particular

Q1 FY 15

Q1 FY 14

% Growth(YoY)

Branch Network

4271

4163

3%

Gold Loan Outstanding (Rs Cr)

21305

25442

-16%

Credit Losses (Rs. Cr)

8

6

33%

% of Credit Losses on Gross Retail Loan AUM

0.037%

0.023%

61%

Average Gold Loan per Branch(Rs. Cr)

4.99

6.11

-18%

No. of Loan Accounts (in lakh)

56

65

-14%

Total Weight of Gold Jewellery pledged (in tonnes)

116

137

-15%

Average Loan Ticket Size

38260

39257

-3%

No. of employees

24140

24945

-3%

           

About Muthoot Finance Ltd:                                                                                                                                        

Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio. The company is a “Systemically Important Non-deposit taking NBFC” headquartered in the southern Indian state of Kerala. Operating history of Muthoot Finance has evolved over a period of 75 years since M George Muthoot (the father of our Promoters) founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887.

The company provides personal loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.

Company is listed on both National Stock Exchange and Bombay Stock Exchange.

Safe Harbor

Certain statements in this release are forward-looking statements. The business involves various risks, and uncertainties that could result in the actual results to differ materially from those indicated here. All forward looking statements made herein are based on information presently available to the management of the Company and the Company does not undertake to update any forward-looking statement that may be made from time to time by or on behalf of the Company. Therefore the investors are requested to make their own independent assessments and judgments by considering all relevant factors before making any investment decision.


 
 
For press background on Muthoot Group

click here
 
Joomla25 Appliance - Powered by TurnKey Linux