Muthoot Fincorp Q1 Results: Net profit up 42% at Rs 304 crore; loan disbursement at record level

Non-banking financial company (NBFC) Muthoot FinCorp on Wednesday reported a consolidated net profit of Rs 303.5 crore for the April-June period, marking an increase of 42.2 per cent over the corresponding period a year ago. Its revenue increased 39.7 per cent to Rs 1,980.8 crore for the first quarter of the current financial year, the company said in a press release. 

Quarterly loan disbursements at the company reached a record Rs 19,631.1 crore, up 29.1 per cent on a year-on-year basis. 

“This is the highest ever quarterly loan disbursements in the history of the Company, and we look forward to continuing the momentum. Our impetus to serve the underserved with the stated purpose of transforming their lives is stronger than ever,” said Shaji Varghese, CEO of Muthoot FinCorp.

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“As we move towards diversifying our portfolio ensuring to meet our customer requirements across their lifecycle, we look forward to ensuring their financial inclusion while playing a contributory role in nation building,” said Varghese. 

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