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Muthoot FinCorp Reports Highest Ever Loan Disbursements in FY 24

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Bengaluru: Muthoot FinCorp Limited, the flagship Company of 137-year-old Muthoot Pappachan Group (Muthoot Blue) reports highest ever loan disbursements in FY 24 with consolidated disbursement at Rs. 61,703.26 cr, up by 18.60%. The AUM stood at Rs. 33,359.30 cr with net profit at Rs. 1047.98 crore, an increase of 62.12 % over the preceding fiscal while serving more than 93lakh customers across the country.

As standalone, Muthoot FinCorp’s disbursements rose by 15% per cent YoY to Rs 50167.12 cr from Rs 43443.26 cr in the previous year. The PAT increased by 22.40% to Rs. 562.81 crores compared to Rs. 459.81 crores in FY 23. The Assets under Management (AUM) stood at ₹ 21349.85 cr, up by 26.3 per cent compared to ₹16910.67 cr in the corresponding previous year. The revenue was reported at Rs.1197.31 in the Jan-March quarter of FY 24 posting a growth of 25.59 per cent, compared to Rs. 953.38 crore in Q4 in FY 23. As of March 31, 2024, the number of total customers served by Muthoot FinCorp Limited stood at 4298445, a 14% increase compared to the previous financial year.

“Muthoot FinCorp is proud to announce its financial results for fiscal year 2024, highlighting a period marked by strategic growth and innovation. Our focused efforts to diversify our product range have effectively addressed the varied financial needs of our customers in the lower middle-income segment. Committed to continuous innovation, we are dedicated to developing a more comprehensive suite of products to support our customers’ evolving financial needs throughout their life cycles. This approach has successfully expanded our customer base and reinforced our commitment to financial inclusion. As we look to fiscal year 2025, we are enthusiastic about extending our reach and enhancing our services to accommodate an even greater number of customers,” stated Thomas John Muthoot, Chairman of Muthoot FinCorp Limited.

“At Muthoot FinCorp, it was a landmark year of crossing Rs. 50,000 crore in disbursements in the last fiscal. We continue to be a retail service provider. 78% of our branches are in non-metro areas, bringing us closer to the customers who had limited access to formal financial services. 81% of customers availed loans below Rs. 1lakh. We look forward to continue serving lower middle-income families alongside focusing on financial inclusion driven from our Purpose of transforming the lives of the common man by ensuring his financial well-being”, said Shaji Varghese, CEO – Muthoot FinCorp Limited.

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