Muthoot Finance reports 12% YoY decline in Q3 PAT at ₹902 cr. Details here
1 min read . Updated: 06 Feb 2023, 07:07 PM IST
Premium- Muthoot Finance's consolidated loan assets under management grew 7% YoY to ₹65,085 crore in Q3FY23 as against ₹60,896 crore in the same quarter last year.
Largest gold loan NBFC, Muthoot Finance garnered a net profit of ₹902 crore in the third quarter of FY23, compared to a profit of ₹1,029 crore in the same quarter a year ago, registering a growth of 12%.
George Jacob Muthoot, Chairman of Muthoot Group said, “We have reported a steady performance during the quarter. Our consolidated loan assets stand at Rs.65,085 crore, and have registered a growth of 7% YoY. Consolidated Profit after Tax has grown 4% and stands at Rs.934 crores for Q3FY23."
Jacob added, "The contribution of our subsidiaries to the overall consolidated AUM improved slightly to 12%, and going ahead we expect the share of non-gold AUM to gradually rise. It is to be noted that despite the challenges, efforts by the NBFC sector has increased the visibility of the gold loans as a safe, secured lending product. We are hopeful that our expertise in the product would help us capitalise on this positively in the coming quarters."
