Muthoot Microfin records 32% YoY asset growth, loan collection efficiency soars

economictimes.indiatimes.com:

Muthoot Microfin, one of the few listed pure-play microfinance lenders, said that its assets under management grew 32% year-on-year while loan collection efficiency improved leading to improvement in profitability.

The NBFC-MFI's (non-banking finance company-microfinance institution) AUM stood at Rs 12,194 crore at the end of March compared with Rs 9,208 crore a year ago. Loan disbursement during FY24 also rose 32% to R. 10,662 crore over the preceding fiscal.

Its collection efficiency, a meric to assess the extent of loan repayment from ground-level borrowers, stood at 98.4%. The numbers are according to the provisional data submitted to stock exchanges.

«FY24 marked a healthy mix of credit expansion, rising margins and declining credit cost. Asset quality remained robust during the year,» it said in the regulatory filing.

Its active customer base expanded by 21% to 33.5 lakh during the year.

«Our key focus areas for the next year include AUM Growth, asset quality, digital inclusion, customer retention and geographic expansion,» it added.



In FY24, the lender availed Rs 9,242 crore through various instruments while it has un-availed sanctions of 2,112 crores.


Its total branch count rose 29% to 1,508 after its entry into Telangana and expansion in states such as Uttarakhand and Himachal Pradesh