Conference Call with Muthoot Finance Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Muthoot Finance announced Q3FY23 results: Consolidated Q3FY23: Loan Assets Under Management increased to Rs 65,085 crore, up by 7% YoY. Profit after Tax increased to Rs 934 crore for Q3FY23, up by 4% QoQ. Standalone Q3FY23: Loan Assets Under Management increased to Rs 57,731 crore, up by 6% YoY Profit after tax increased to Rs 902 crore for Q3FY23, up by 4% QoQ. Key Highlights: Opened 54 new branches in Q3FY23. Raised Rs 422 crore through the 28th and 29th Public Issue of Secured Redeemable Non-Convertible Debentures. Launched a 360-degree marketing campaign showcasing the message 'Put your Gold to Work'. Commenting on the results, Mr. George Jacob Muthoot, Chairman Muthoot Group said, “We have reported a steady performance during the quarter. Our consolidated loan assets stand at Rs 65,085 crore, and has registered a growth of 7% YoY. Consolidated Profit after Tax has grown 4% and stands at Rs 934 crore for Q3FY23. The contribution of our subsidiaries to the overall consolidated AUM improved slightly to 12%, and going ahead we expect the share of non-gold AUM to gradually rise. It is to be noted that despite the challenges, efforts by NBFC sector has increased the visibility of the gold loans as a safe, secured lending product. We are hopeful that our expertise in the product would help us capitalise on this positively in the coming quarters”. Mr. George Alexander Muthoot, Managing Director said, " Muthoot Finance registered a YoY growth of 6% in loan assets and marginal QoQ growth in gold loans of less than 1%. Yield on loan portfolio witnessed a QoQ increase of 0.84% consequent to stoppage of very low rate teaser loans. Borrowing cost slightly rose to 8.13% due to the impact of general increase in the interest rates with banks MCLR being constantly revised and fresh NCDs being raised at higher rates. Our continued focus on loan disbursements, recovery efforts and keeping our borrowing costs under check could enable us to maintain our NIMs in the range of 11-12%. Return on assets for the quarter improved to 6.27%.” Result PDF