muthoot microfin: Muthoot Microfin Q4 net profit nearly doubles to Rs 102 crore

Kolkata: Muthoot Microfin, part of the Muthoot Pappachan group, stated that its internet revenue for the fourth quarter almost doubled at Rs 102 crore, backed by sturdy enterprise development.

Complete revenue was at Rs 448 crore as in contrast with Rs 249 crore.

Revenue for the total 12 months was Rs 203 crore towards Rs 80 crore within the previous 12 months.

The asset underneath administration for the lender jumped 37% year-on-year to Rs 9200 crore on the finish of March.

“The business is now on a steady footing. Credit score value might be coming down this fiscal,” Muthoot Microfin’s chief government officer Sadaf Sayeed instructed ET.

The asset high quality of the lender improved according to the sectoral pattern with its gross non-performing belongings ratio falling to 2.9% on the finish of the 12 months from 6.3% a 12 months again. It wrote-off dangerous loans to the tune of Rs 188 crore.

Sayeed stated it’s comfortably positioned by way of capital with an adequacy ratio at 22% which can be adequate for this 12 months’s development.