Muthoot FinCorp Limited, has reported highest ever loan disbursements in FY24 with consolidated disbursement at ₹61,703.26 crore, up by 18.60 per cent. The AUM stood at ₹33,359.30 crore with net profit at ₹1047.98 crore, an increase of 62.12 per cent over the preceding fiscal, while serving more than 93 lakh customers across the country.
As standalone, Muthoot FinCorp’s disbursements rose by 15 per cent per cent year-over-year (YoY) to ₹50167.12 crore from ₹43443.26 crore in the previous year. The PAT increased by 22.40 per cent to ₹562.81 crore compared to ₹459.81 crore in FY23.
“Our focused efforts to diversify our product range have effectively addressed the varied financial needs of our customers in the lower middle-income segment. 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”, said Thomas John Muthoot, Chairman of Muthoot FinCorp Limited.
“It was a landmark year of crossing ₹50,000 crore in disbursements in the last fiscal. We continue to be a retail service provider. 78 per cent of our branches are in non-metro areas, bringing us closer to the customers who had limited access to formal financial services. 81 per cent of customers availed loans below ₹1 lakh”, Shaji Varghese, CEO – Muthoot FinCorp Limited said.