Muthoot Home Fin (India) Ltd, a wholly owned subsidiary, increased its loan portfolio by 31% at Rs1908cr for FY19 as against Rs1459cr in the previous year. The company made a net profit of Rs36cr as against Rs22cr in the previous year.
Belstar Investment and Finance Private Limited, a micro finance NBFC and Subsidiary Company where Muthoot Finance holds 70.01% stake, grew its loan portfolio to Rs1842cr as against last year of Rs1138cr, a yoy increase of 62%. It achieved a profit after tax of Rs73cr in FY19 as against previous year profit after tax of Rs27cr.
Muthoot Insurance Brokers Pvt Limited, insurance products and a wholly owned subsidiary company generated a total premium collection amounting to Rs268cr in FY19 as against Rs169cr in the previous year. It generated a Profit after Tax of Rs15cr in FY19 as against Rs11cr in the previous year.
George Alexander Muthoot, Managing Director said, “Muthoot Finance achieved a standalone AUM growth of 18% during FY19 reaching Rs34,246cr as against last year of Rs29,142cr. Subsidiaries have achieved considerable momentum in building loan assets. Our subsidiaries achieved yoy loan growth of 51% reaching Rs4558cr as against last year of Rs3012cr. They are contributing 12% of Group Loan assets.