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AUM up 32.42% YoY; Branch network crosses 1,500 mark; Enters Telangana
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FY24 NIM at 12.7% up 84 bps YoY; exits fiscal at 13.5% NIM for the quarter
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Credit Cost in FY24 down to 1.7% from 3.0% YoY as asset quality remains robust and collection efficiency improves by 260 bps
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FY24 ROA doubles to 4.19%, ROE jumps 890 bps to 20.30%
Bengaluru: Muthoot Microfin Limited (NSE: MUTHOOTMF, BSE: 544055), among India’s leading Non-Banking Financial Company-Micro Finance Institution (NBFC-MFI), focused on providing micro-loans to women entrepreneurs with a focus on rural regions of India, today announced its audited financial performance for the fourth quarter and twelve months of the financial year 2023-24.
Business Highlights: FY24
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GLP grew by 32.42% YoY from Rs. 9,208.30 crore to Rs. 12,193.50 crore; company reports highest ever disbursement of Rs. 10,661.59 crore
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MML Forays into Telangana; operating in 19 states with 353 districts
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Borrower base grew by 20.92% YoY from 27.73 lakhs to 33.53 lakhs across 1,508
branches. The branch count grew by 28.67% YoY
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Concluded a landmark ECB deal, raising USD 75 million (Rs. 622 crores) from multiple international banks
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Recognized as the “Microfinance Company of the Year” at the prestigious ET Business Awards 2024.
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Credit Rating: A+/Stable and grading M1C1 by CRISIL.
Financial Highlights: FY24
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Total income increased by 58.02% YoY from Rs. 1,446.34 crore to Rs. 2,285.49 crore
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Net interest income (NII) increased by 55.66% YoY from Rs. 874.40 crore to Rs. 1,361.10 crore
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Pre-provision operating profit (PPOP) increased by 75.11% YoY from Rs. 436.19 crore to
Rs. 763.80 crore
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Profit After Tax (PAT) increased by 174.32% YoY from Rs. 163.89 crore to Rs. 449.58 crore
