Finance company Muthoot Microfin announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Total income increased by 45.8% YoY from Rs 448.2 crore to Rs 653.4 crore Net interest income (NII) increased by 47.0% YoY from Rs 272.1 crore to Rs 400.1 crore Pre-provision operating profit (PPOP) increased by 62.7% YoY from Rs 150.1 crore to Rs 244.1 crore Profit After Tax (PAT) increased by 26.7% YoY from Rs 94.6 crore to Rs 119.8 crore FY24 Financial Highlights: Total income increased by 58.0% YoY from Rs 1,446.3 crore to Rs 2,285.5 crore Net interest income (NII) increased by 55.7% YoY from Rs 874.4 crore to Rs 1,361.1 crore Pre-provision operating profit (PPOP) increased by 75.1% YoY from Rs 436.1 crore to Rs 763.8 crore Profit After Tax (PAT) increased by 174.3% YoY from Rs 163.8 crore to Rs 449.5 crore The GNPA of the Company is at 2.3% as against GNPA of 2.9% a year ago, NNPA stood at 0.4% as against 0.6% last year. The GNPA improved by 68 bps and NNPA by 25 bps. Collection Efficiency at 98.4% up 260 bps Robust liquidity of Rs 957.7 crore of unencumbered cash and cash equivalents, 8.3% of the total assets alongside unutilized sanctions totalling Rs 2,119 crore. Healthy capital position with a CRAR of 28.9% 26.3% of collections are via digital channels such as UPI/Customer App, while 100% disbursements are entirely executed digitally. Thomas Muthoot, Managing Director of Muthoot Microfin, said- “We are pleased to share yet another quarter and fiscal of impressive financial performance, showcasing steady growth in our portfolio led by the acquisition of more customers and expansion of branch network of company. The scale that we have will allow greater operating efficiencies and with stable NIMs and robust asset quality that we have achieved gives us several reasons to believe our performance will continue to improve. Our ROA doubled up to 4.2% in FY24 and the quarter was the fifth straight quarter of RoA remaining above 4%. Our ROE has surpassed our annual guidance led by significantly improved profitability as we continue to deliver outsized returns to our shareholders. We will continue to focus our strategic efforts to grow steadily and responsibly while ensuring excellent corporate governance, operational agility, and resilience. As a responsible MFI player, our mission extends well beyond profit margins. We combine our robust business performance with social responsibility to contribute to a better and more inclusive society.” Sadaf Sayeed, CEO, Muthoot Microfin, said- "Reviewing our FY24 performance, we take great pride in consistently achieving excellence across all key parameters. Our assets under management have surged by 32% year-on-year, reaching Rs 12,193.5 crore, while we have ended the year with Total income and net profit at new highs. Total income for the year increased by 58.0% YoY from Rs 1,446.3 crore to Rs 2,285.5 crore and Net Profit rose by 174.3% YoY from Rs 163.9 crore to Rs 449.6 crore. The notable improvement in our NPA figures, with NNPA standing at 0.4%, reflects our steadfast commitment to maintaining a robust and healthy loan portfolio. Additionally, we have successfully raised USD 75 million via ECB which further enables us by advancing our liquidity and is a step towards funding diversification and effective ALM management. Our strategic expansion into Telangana and upcoming plans for Andhra Pradesh underscore our commitment to align our growth aspirations with fostering financial inclusion and driving socio-economic progress.” Result PDF
Conference Call with Muthoot Microfin Management and Analysts on Q4FY24 Performance and Outlook. Listen to the full earnings transcript.