Muthoottu Mini Financiers reports highest annual growth in FY22
- Reported Highest growth of 25.29% in FY 2021-22
- 45% increase in NET profit.
- Lowest ever Net NPA of 0.52%
KOCHI, India, May 31, 2022 /PRNewswire/ — Muthoottu Mini Financiers Ltd., one of the leading NBFC in India, the flagship company of Muthoottu M Mathew group with a legacy of 100+ years, has reported highest growth of 25.29 per cent for the financial year 2021-22. The company’s consolidated Asset Under Management (AUM) touched Rs 2498.60 Crore as compared to Rs.1994.21 Crore reported in the previous fiscal. The AUM has reported a consistent growth of 21.03 percent during FY19-20, 17.92 percent during FY 20-21 and 25.29 percent during FY 21-22 respectively. The Profit After Tax (PAT) for the year ended on March 31, 2022 grew by 45 percent at Rs 46.29 crore.
Commenting on the results, Mathew Muthoottu, Managing Director of Muthoottu Mini Financiers Ltd said, “Despite the Covid-19 triggered adversities, this fiscal year has seen a commendable overall performance and we have succeeded in posting our best ever full-year results, with significant growth in business.”
“We also strengthened our digital platforms to adapt to the new normal and will continue to serve our valued customers consistently in the most innovative ways,” he added.
The Company’s operating income for the year ended on 31st March, 2022 stood at Rs. 428.95 crores, registering Y-o-Y growth of 16.49 per cent against Rs.368.22 crores recorded during the same period of last fiscal. As on March 31, 2022, the Gross NPA and Net NPA are at 0.61 percent and 0.52 percent respectively. Muthoottu Mini, recently mopped up Rs. 243 crore through Non-Convertible Debenture (NCDs) issue and also upgraded credit ratings by various agencies. As on date, the Company has 3500+ employees with a network of 826 branches spread across the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi, UP, Goa and the union territory of Pondicherry.
About Muthoottu Mini Financiers
Muthoottu Mini Financiers Limited is an RBI registered non-deposit taking systemically important NBFC in the gold loan sector, lending money against the pledge of household gold jewellery for over 2 decades. As on September 30, 2021, the Company had a network of 809 branches spread in the states of Kerala, Tamil Nadu, Karnataka, Andhra Pradesh, Telangana, Haryana, Maharashtra, Gujarat, Delhi and Goa and the union territory of Puducherry and employed 3,205 persons in its business operations.
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