Muthoot Microfin's AUM rose 32% YoY in Q4, loan disbursement highest ever

Kochi-based microfinance institution, Muthoot Microfin’s assets under management (AUM) posted a 32 per cent year-on-year (YoY) growth in the quarter ended on March 31, 2024.

The AUM in the March quarter soared to Rs 12,194 crore as compared to Rs 9,208 crore during the same period a year ago.
 

In FY24, the company recorded its highest ever loan disbursements in a single financial year. The disbursements rose by 32 per cent YoY to Rs 10,662 crore from Rs 8,104 crore in the year ago period.

In the exchange filing, the company said that it has observed substantial growth both during the last quarter and financial year. “FY24 marked a healthy mix of credit expansion, rising margins and declining credit cost. Asset quality remained robust during the year.”

For the fiscal year under review, the Collection Efficiency (CE) of the company stood at 98.4 per cent increasing 260 bps from 95.8 per cent in the fiscal year 2022-23.

Active customer count of the company expanded by 21 per cent to 3.35 million as of March 31, 2024 from 2.77 million customers as of March 31, 2023. In the current fiscal, Muthoot Microfin added 1 million new customers.

Also, the cumulative downloads of Mahila Mitra app reached 1.63 million customers.

The branch count of the company grew by 29 per cent over the previous year, reaching 1,508. Recently, the company opened new branches in Telangana along with expanding its presence in other states including Uttarakhand and Himachal.

During FY24, Muthoot Microfin availed Rs 9,242 crore through various instruments. It also has un-availed sanctions of Rs 2,112 crore as of March 31, 2024.
 

On its plans for next financial year, the company noted, “Our key focus areas for the next year include Assets Under Management (AUM) Growth, Asset Quality, Digital inclusion, Customer retention and geographic expansion.”

At 10:23AM, Muthoot Microfin was 0.90 per cent up at Rs 235.45 on the BSE, Monday.