Muthoot Finance Ltd's Q1FY19 standalone net profit rises 42.5% yoy to Rs491.60cr : In-line with Estimates

The company’s standalone NII stood at Rs1,121.30cr, up 31.44% yoy and 1.8% qoq.

Sep 05, 2018 11:09 IST India Infoline Research Team

Muthoot Finance Ltd Q1FY19

Standalone Results Q1FY19: (Rs. in cr)

Q1FY19 YoY (%)
NII 1,121.30 31.4
Net Profit (adjusted) 491.60 42.5

Muthoot Finance's Q1FY19 revenue has increased by 18.6% yoy to Rs1,633cr. Its NII came at Rs1,121.3cr as against Rs853.1cr, which has increased by 31.4% yoy. Its net profit came in-line with estimates at Rs491.6cr against Rs344.9cr in the corresponding quarter previous year, which has improved by 42.5% yoy.

  • Consolidated gross loan assets of the Group for the quarter stood at Rs34,316cr up 16% yoy.
  • Its subsidiaries achieved yoy loan growth of 102% reaching Rs3,319cr as against Rs1,644cr last year.
  • Subsidiaries contribution to loan book is expected at 15% of group’s assets by FY19 end.
  • Muthoot Homefin (India) Limited has grown its loan portfolio to Rs1,621cr as against previous year of Rs596cr, a yoy increase of 172%.
  • The micro finance subsidiary which has a strong SHG model increased its loan portfolio to Rs1,236cr as against last year of Rs665cr, a yoy increase of 86%.
  • Its Gold Loan outstanding as of Q1FY19 end stood at 30,562cr.
  • Its capital adequacy ratio as of Q1FY19 stood at 26.44%.

Technical View:

Muthoot Finance Ltd is currently trading at Rs. 432.30, up by 32.8 points or 8.21% from its previous closing of Rs. 399.50 on the BSE.
The scrip opened at Rs. 405.05 and has touched a high and low of Rs. 435.85 and Rs. 401.75 respectively. So far 41,07,840 (NSE+BSE) shares were traded on the counter. The stock is currently trading below its 200 DMA.

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