Q4FY18 Results: Muthoot Finance witnesses subdued revenue

Muthoot Financial Services reported weak numbers for the quarter with subdued revenue and modest loan assets growth over the FY18.

The NII for the quarter declined by 5.3 per cent yoy to Rs. 1,101 crore in Q4FY18 vs Rs. 1,163 crore in Q4FY17 and Rs. 1,085 crore in Q3FY18. This was largely due to decline in total revenue by 9.7 per cent yoy to Rs. 1,550 crore vs Rs. 1,709 crore in Q4FY17.

The provisions for the quarter declined almost by 75 per cent yoy to Rs. 59 crore in Q4FY18 vs Rs.243 crore in Q4FY17. The resultant net profit for the quarter grew by 40 per cent yoy and declined 2.7 per cent qoq to Rs. 451 crore in Q4FY18.

The loan assets for the quarter also rose by modest 7 per cent yoy to Rs. 29,138 crore in FY18 vs Rs. 27,278 crore in FY17.While the asset quality remained unchanged at GNPA of 0.42 per cent for FY18.

On Wednesday, the stock closed 1.18 per cent down at Rs. 420 mark.