Muthoot Finance Limited has reported an 11% increase in its profit after tax (PAT) for the second quarter of the financial year 2022 (Q2 FY22) to INR 994 crores, compared to INR 894 crores in the same quarter of the previous financial year.

In the previous quarter, the Kochi-based gold loan company posted a profit after tax of INR 971 crores.

The earnings per share for Muthoot Finance in the reported quarter were INR 24.77, an 11% increase compared to INR 22.3 in Q2 FY21.

For the first six months of the financial year 2022, Muthoot Finance registered INR 1,965 crores, a 13% increase compared to INR 1,735 crores in H1 FY21.

The gold loan provider reported a 10% growth in its total income to INR 2,833 crores for the quarter ended 30 September 2021, compared to INR 2,584 crores in Q2 FY21. In Q1 FY21, the company’s total income was INR 2,715 crores.

Muthoot Finance’s loan assets as of the end of Q2 FY22 were INR 55,147 crores, a 17% increase compared to INR 47,016 crores for the same period last year. During the reported quarter, the gold loan assets of the company increased by 5% year-over-year to INR 2,613 crores.

Muthoot Finance grew the number of branches to 4,619 as of 30 September 2022, which is a slight increase of 0.26% compared to the number of branches it had at the end of the first six months of the previous financial year.

George Jacob Muthoot — Chairman of Muthoot Group said: “As second wave of the pandemic has ebbed and economy further unlocks, corporate India has emerged stronger and better. We were able to maintain growth momentum during the quarter with all of our branches now open for business.

“Our consolidated loan asses under management (AUM) stood at Rs.60,919 crores as of end September 2021, clocking a growth of 5% QoQ and a growth of 17% YoY despite a challenging business environment. Consolidated Profit after tax stood at Rs.1,981 crores for the half year ended September 2021, registering a growth of 11% YoY.

“The contribution of our subsidiaries to the overall consolidated AUM stands steady at 10%. As a responsible NBFC, we have been consistently working towards an overall growth strategy focusing on governance, performance and ESG framework.”

  George Jacob Muthoot, India, Muthoot Finance, Muthoot Group