Sequentially, the NBFC's net profit and total income in Q4 FY23 rose 0.11% and 7.38%, respectively.

India's largest gold loan NBFC's consolidated net profit fell 2.4% to Rs 973.50 crore despite of 8.5% rise in total income to Rs 3,298.36 crore in Q4 FY23 over Q4 FY22.

Consolidated profit before tax fell marginally to Rs 1,354.88 crore in Q4 FY23 from Rs 1,315.83 crore recorded in the same period last year.

The gold financer's consolidated loan assets under management stood at Rs 71,497 crore in Q4 FY23, rising 10% from Rs 61,494 crore posted in Q4 FY22 and rose 10% quarter on quarter from Rs 65,085 crore reported in Q3 FY22.

During the quarter, total disbursement stood at Rs 51,850 crore .

On full year basis, the company's net profit declined 12.2% to Rs 3,473.53 crore on 5% fall in total income to Rs 10,543.75 crore in FY23 over FY22.

Capital adequacy ratio was at 31.77% as on 31 March 2023.

Commenting on the company's performance, George Jacob Muthoot, chairman, Muthoot Group, said, “Our vision is to remain leader in gold loan business and at the same time cater to large customer base with various loan products to meet their varied requirements. In this process, we expect to grow the loan book by 10-15% during FY24. We continue to share the profits generated during the year to our shareholders by paying an interim dividend of 220% i.e, Rs 22 per equity share of Rs 10 each which involved a total payout of Rs 883crore.”

George Alexander Muthoot, managing director, said, “The disbursements also stood historic high in any Q4 at Rs 51,850 crore. Profit after tax remained steady for the quarter at Rs 903 crore. Increase in Stage 3 assets is purely an accommodation given to customers for few more months on the back of higher collateral value and we do not envisage any loss on account of the extended time.

We have entered into new lending products like small business loans as well as micro personal loans. We intend to achieve calibrated growth in these new products during FY24.

Muthoot Finance is the flagship company of the Kerala-based business house, The Muthoot Group, which has diversified operations in financial services, healthcare, education and hospitality. It is India's largest gold loan focused NBFC.

The scrip declined 1.45% to settle at Rs 1,034.75 on Friday, 19 May 2023.

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Net profit of Muthoot Finance declined 2.36% to Rs 973.50 crore in the quarter ended March 2023 as against Rs 997.03 crore during the previous quarter ended March 2022. Sales rose 8.40% to Rs 3274.88 crore in the quarter ended March 2023 as against Rs 3021.13 crore during the previous quarter ended March 2022.

For the full year,net profit declined 10.07% to Rs 3612.30 crore in the year ended March 2023 as against Rs 4016.62 crore during the previous year ended March 2022. Sales declined 2.36% to Rs 11897.66 crore in the year ended March 2023 as against Rs 12185.61 crore during the previous year ended March 2022.

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Muthoot Finance will hold a meeting of the Board of Directors of the Company on 19 May 2023.

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Muthoot Finance Ltd is down for a fifth straight session today. The stock is quoting at Rs 1015.8, down 0.32% on the day as on 13:19 IST on the NSE. The benchmark NIFTY is up around 0.2% on the day, quoting at 17778.4. The Sensex is at 60141.62, up 0.14%.Muthoot Finance Ltd has added around 5.16% in last one month.Meanwhile, Nifty Energy index of which Muthoot Finance Ltd is a constituent, has increased around 7.88% in last one month and is currently quoting at 18992.95, up 0.06% on the day. The volume in the stock stood at 2.68 lakh shares today, compared to the daily average of 7.06 lakh shares in last one month.

The benchmark April futures contract for the stock is quoting at Rs 1018.9, down 0.34% on the day. Muthoot Finance Ltd tumbled 21.8% in last one year as compared to a 3.36% rally in NIFTY and a 13.09% spurt in the Nifty Energy index.

The PE of the stock is 11.59 based on TTM earnings ending December 22.

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