Q1FY21 results: Muthoot Finance net profit rises 52 per cent YoY to Rs 857.68 crore
Muthoot Finance Limited, the largest gold financing company in India in terms of loan portfolio, announced its quarterly results on August 19, 2020, Consolidate net profit came in at Rs 857.68 crore for the quarter ending June 2020, which grew by 52.3 per cent YoY, as compared to Rs 563.3 crore it reported in Q1FY20.
Total Income of the company increases by 25.8 per cent YoY to Rs 2,606.81 crore in Q1FY21 from Rs 2,072.11 crore in Q1FY20. Net interest income (NII) stood at Rs 1,556.86 crore which registered a growth of 20.4 per cent YoY, as against Rs 1,293.45 crore in Q1FY20. Net interest margin (NIM) in Q1FY21 came in at 13.94 which increased 40 bps YoY from 13.54 in Q1FY20. Operating profit for Q1FY21 stood at Rs 1,151.485 crore which increased by 33.3 per cent YoY, as against Rs 863.64 crore in Q1FY20.
On the asset quality front, the company’s stage 3 loan assets stood at Rs 1,055.3 crore in Q1FY21 which increased by 17.35 per cent QoQ from Rs 899.2 crore in Q4FY20. Stage 3 loan assets as per cent to gross loan assets stood at 2.56 per cent in June quarter, which increased by 40 bps QoQ from 2.16 in March quarter. Capital adequacy ratio stood at 26.3 per cent in Q1FY21 that increased by 83 bps QoQ, as against 25.47 per cent in previous quarter.
The stock closed with gains of 1.32 per cent at Rs 1,256 in today’s session on BSE.
|
Particulars
|
Q1FY21
(Rs in cr)
|
Q1FY20
(Rs in cr)
|
Per cent
change
|
|
Net Profit
|
857.68
|
563.31
|
52.3
|
|
NII
|
1,556.86
|
1,293.45
|
20.4
|
|
NIM (%)
|
13.94
|
13.54
|
40 bps
|
|
Operating profit
|
1,151.49
|
863.65
|
33.3
|
| |
|
|
|
|
Particulars
|
Q1FY21
|
Q4FY20
|
Per cent
Change
|
|
Stage 3 Loan Assets (Rs in cr)
|
1,055.3
|
899.2
|
17.35
|
|
% Stage 3 Loan assets
|
2.56
|
2.16
|
40 bps
|
|
Capital adequacy ratio(%)
|
26.3
|
25.47
|
83 bps
|