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Muthoot Finance Ltd Q2 FY 2016 Results

208 Days ago

Muthoot Finance Ltd, the largest gold financing company in India in terms of loan portfolio, registered increased net profit , at Rs.174crs for the quarter ended September,2015 as against Rs.171crs in the previous year quarter . Retail loans registered an increase of Rs.464crs at 2% during the quarter and Rs.3071crs at 14% during the last 12months.

 

The Sri Lankan subsidiary ,Asset Asia Finance PLC , has made considerable increase in the lending portfolio. The loan portfolio has grown by 52% as on September 30 , 2015 at LKR 5.4 Billion as against LKR 3.6 Billion in the previous year. The profit after tax for the same period has increased by 40% at LKR 76.8 Million and LKR 55.0 Million respectively.

The Company has also announced that it is acquiring 100% equity shares of Muthoot Insurance Brokers Private Limited(MIBPL) ,an entity licensed by IRDA to act as Direct broker since 2013, at a purchase value of Rs.20crs , subject to regulatory approvals. MIBPL is active in the business of selling Life and Health insurance policies.

 

Commenting on the results M G George Muthoot, Chairman stated “An economy where optimism is yet to become reality , Muthoot Finance could grow its loan portfolio by Rs.464crs during the quarter and deliver good profits. We are rolling out various customer friendly schemes which we hope to bring in new set of customers as well as newer usages for gold loan. Board of Directors is glad to declare an interim dividend of 40% resulting in a payout of Rs.191crs including tax .”

 

Speaking on the occasion George Alexander Muthoot, Managing Director said “The acquisition of insurance broking business will diversify Company’s business activities. This will enable the Company to meet insurance cover needs of its large customer base. We expect the insurance broking activity to excel by becoming a 100% subsidiary of Muthoot Finance .”

 

Financial Highlights:

 

 

Q2 FY16

(Rs.in Crs)

Q2 FY15

(Rs.in Crs)

YoY % Qtly change

H1 FY16 (Rs.in Crs)

H1 FY15 (Rs.in Crs)

YoY % Half Yrly change

FY 15 (Rs. In Crs)

Total Income

1140

1062

7%

2283

2153

6%

4325

Profit Before Tax

268

260

3%

552

533

4%

1028

Profit After Tax

174

171

2%

358

351

2%

671

Earnings Per Share(Basic)

4.39

4.30

2%

8.99

8.93

1%

16.97

Retail Loan AUM

24873

21802

14%

24873

21802

14%

23408

 

 

Q2 FY16

Q2 FY15

H1 FY16

H1 FY15

FY 15

Return on Average Retail Loans

2.83%

3.16%

2.95%

3.23%

3.03%

Return on Average Equity

13.26%

14.06%

13.84%

15.40%

14.35%

Book Value Per Share (Rs. in crs)

131.95

122.00

131.95

122.00

127.59

 

 

Q2 FY16

Q2 FY15

FY 15

Capital Adequacy Ratio

22.97%

26.30%

24.78%

Share Capital & Reserves(Networth)(Rs. in Crs)

5257

4850

5083

 

Business Highlights:

Particular

H1 FY 16

H1-FY-15

% Growth(YoY)

Branch Network

4249

4265

-0.38%

Gold Loan Outstanding (Rs Cr)

24825

21697

14%

Credit Losses (Rs. Cr)

5

10

-50%

% of Credit Losses on Gross Retail Loan AUM

0.021%

0.047%

-56%

Average Gold Loan per Branch(Rs. Cr)

5.84

5.09

15%

No. of Loan Accounts (in lakh)

68

57

19%

Total Weight of Gold Jewellery pledged (in tonnes)

144

120

20%

Average Loan Ticket Size

36591

37911

-3%

No. of employees

22929

23390

-2%

             

About Muthoot Finance Ltd:

Muthoot Finance Limited is the largest gold financing company in India in terms of loan portfolio. The company is a “Systemically Important Non-deposit taking NBFC” headquartered in the southern Indian state of Kerala.

 

Operating history of Muthoot Finance has evolved over a period of 76 years since M George Muthoot (the father of our Promoters) founded a gold loan business in 1939 under the heritage of a trading business established by his father, Ninan Mathai Muthoot, in 1887.

 

The company provides personal and business loans secured by gold jewellery, or Gold Loans, primarily to individuals who possess gold jewellery but could not access formal credit within a reasonable time, or to whom credit may not be available at all, to meet unanticipated or other short-term liquidity requirements.

 

Company is listed on both National Stock Exchange and Bombay Stock Exchange.

 

For more information and results table, click here

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