In an interview to CNBC-TV18, George Alexander Muthoot, MD of the company discussed the company's Q3 performance.
We have seen a little uptick in the assets under management (AUM) growth, George Alexander Muthoot, MD of Muthoot Finance said.
The Muhtoot Finance stock has been buzzing in trade and gold financiers are in focus on the back of merger and acquisition (M&A) buzz. Also rural market conditions have improved. In an interview to CNBC-TV18, George Alexander Muthoot, MD of Muthoot Finance gave the ground check.
Muthoot Finance posted a decent set of earnings in Q1. Asset quality showed a slight hiccup but remained under control. In an interview to CNBC-TV18, George Alexander Muthoot, MD of the company discussed the company's Q1 performance.
In an interview to CNBC-TV18, George Alexander Muthoot, MD of Muthoot Finance spoke about the latest happenings in his company and sector.
In an interview to CNBC-TV18, George Alexander Muthoot, MD of Muthoot Finance spoke about the results and his outlook for the company.
Speaking to CNBC-TV18, George Alexander Muthoot, MD of the company said the demonetisation has started fading with 65-70 percent business coming back on track for the company, Muthoot said adding that Q3 growth is expected to be flat.
The pain of the demonetisation drive seems to be reducing, says George Alexander Muthoot, MD of Muthoot Finance. He expects no de-growth in this quarter and has a growth target of 18-20 percent as things get better.
Speaking to CNBC-TV18, George Alexander Muthoot, MD of Muthoot Finance said that the company is encouraging customers to take up online systems like NEFT and RTGS for payments post demonetisation.
In an interview with CNBC-TV18, Suresh Ganapathy of Macquarie Capital Securities said that unsecured loans and consumer durables are likely to see higher non-performing assets (NPAs) in the NBFC sector.
In addition to Bharat Financial's Non-executive Chairman, Digant Haria of Antique Broking also spoke and he said the size of the company will matter when an NBFC wants to become a bank.
The company had earlier guided for a 10-15 percent AUM (assets under management) growth in FY17. But Muthoot says that if the strong performance from the company continues, it may report better numbers.
Keyur Shah, CEO-Precious Metals Business at Muthoot Pappachan, said the company has partnered with Kabali producers only to join the 'celebration' and Rajinikanth fans have already booked 100 kg silver coins.
Legacy stressed book has been mostly cleared off and whatever is left is manageable, says George Alexander Muthoot, MD of Muthoot Finance.
In an interview with CNBC-TV18, George Alexander Muthoot, MD of Muthoot Finance said that the company is looking to expand operations in other geographies.
George Alexander Muthoot, MD of Muthoot Finance says reduction in operating expenses and better interest collection aided growth in Q3.
George Alexander Muthoot, MD, Muthoot Finance says the company continues to enjoy 9 percent spreads and adds that it has not lost any capital on non-performing loans (NPLs).
Muthoot Finance is confident of maintaining margins at around 9.39 percent, says George Alexander Muthoot, MD of Muthoot. The company had reported around 9.6-9.7 percent net interest income (NII) in the year-ago period.
George Alexander Muthoot, MD, Muthoot Finance says the present scheme of the government is not about deposit of jewelry, it is about converting it to gold bars and not many people will be interested in it as the making charge stands at anywhere between 25 percent and 30 percent.
Going forward, George Alexander Muthoot, MDof Muthoot Finance expects the net interest income (NII) number to be consistent and profits to be driven by assets under management (AUM).
Speaking about the easing, Muthoot Finance CEO said bullet payment does not tend to affect asset quality of a company.
The company's Q3 net profit stood at Rs 194.2 crore versus Rs 270 crore, on a year-on-year basis (Y-o-Y).
Shares in leading loan-against-gold lenders such as Muthoot Finance and Manappuram Finance vaulted in early trade Thursday after the Reserve Bank of India (RBI) raised the loan-to-value (LTV) for non-banking financial companies (NBFCs) to 75 percent from 60 percent.
Speaking to CNBC-TV18 on the path ahead, George Alexander Muthoot, managing director, Muthoot Finance, says the white-ATM business segment will help the company gain access to those who are not their customers via gold loans.
In an interview to CNBC-TV18, George Alexander Muthoot, Managing Director at Muthoot Finance speaks about better business prospects going forward. He expects net interest margins (NIMs) to be stale at 9.5 percent, while asset quality will see improvement.