Muthoot Finance today reported 40.3 per cent jump in standalone net profit at Rs 451.39 crore for March quarter on the back of diversification of loan portfolio.
The company had registered a net profit of Rs 321.78 crore during January-March, 2016-17.
Total revenue from operations was however down at Rs 1,572.92 crore as against Rs 1,709.63 crore in the year-ago period, Muthoot Finance said in a regulatory filing.
For 2017-18 financial year, net profit was up 46 per cent at Rs 1,720.27 crore as against Rs 1,179.83 crore in the preceding year.
Total income was at Rs 6,185.27 crore as against Rs 5,728.63 crore in 2016-17.
On consolidated basis, the net profit for 2017-18 increased to Rs 1,798.69 crore from Rs 1,207.26 crore a year ago. Income was Rs 6,640.95 crore compared with Rs 5,910.80 crore.
Chairman M G George Muthoot said :"While the thrust on increasing the gold loan business continues, group's focus on diversification of lending portfolio has started yielding results. The consolidated loan book of the group has increased 12 per cent year-on-year at Rs 32,154 crore."
He also announced that Muthoot Finance is one of the top 50 corporate income tax payers in the country paying Rs 1,037 crore in 2017-18.
"Our subsidiaries are contributing 10 per cent of group assets and have again shown an excellent performance during the year. We are expecting this contribution to increase to 15 per cent of group's assets in the coming year," said Managing Director George Alexander Muthoot.
Muthoot Homefin (India) has grown its loan portfolio by Rs 1,024 crore during the year reaching Rs 1,465 crore.
The NBFC arm in Sri Lanka increased its loan portfolio by 13 per cent during the year. First year premium collections in the insurance broking subsidiary increased 44 per cent at Rs 101 crore, he said.
Stock of Muthoot Finance closed 1.18 per cent down at Rs 420.45 on BSE.
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