- Consolidated net profit of Rs 1009 crore in Q4
- Record growth in gold loan disbursement
- Declared dividend of Rs 22 per share
Kochi: Muthoot Finance, the country’s largest gold loan company, achieved spectacular growth during the last quarter of the financial year. Gold loan disbursement reached Rs 51850 crores with a growth of Rs 5051 crore as compared to the corresponding quarter of the previous financial year. Consolidated net profit reached Rs 1009 crores. The total profit for the last financial year is Rs 3670 crores. The fourth quarter marked a record gain in interest income; which is Rs 2677 Crore in Q4.
Managing Director George Alexander Muthoot announced the last quarter results in Kochi after the board meeting. Executive Director and CEO K R Bijimon and CFO Ommen K Mammen attended the press conference.
The company is targeting 10-15% growth in FY 2023-24. The company also declared a dividend of Rs 22 per share of face value, Rs 10. The company recently introduced two new loan products which do not require collateral security: 1) SME loan upto the amount of Rs 10 lakhs
2) Personal loan upto the amount of Rs 1 lakh.
The company also announced certain branding plans for the coming financial year. Madhuri Dixit has signed as the brand ambassador for the company along with Amitabh Bachchan.
