NEW DELHI (India CSR): As a socially responsible company, Muthoot Finance fulfilled its Corporate Social Responsibility commitment with an overspent of 101% during FY23. The company has spent a total of Rs. 96 crores, which is Rs. 69 lakhs in excess of its statutory budget of FY23. The company has allocated more than 100 crores for FY 24 with an emphasis on the areas of Environment, Health, and Education in order to alleviate poverty and uplift the financially deprived section of the community.
The Muthoot Group is committed to corporate social responsibility (CSR). During fiscal year 2023, the group spent Rs. 96 crores on CSR initiatives. These initiatives focused on education, health, and livelihood. The group also donated Rs. 10 crores to the Prime Minister’s Relief Fund for the victims of the COVID-19 pandemic.
The Muthoot Group is a leading player in the financial services sector in India. The group has a strong track record of growth and profitability. The group is committed to providing financial services to the underserved segments of society. The group’s CSR initiatives are aligned with its vision of creating a sustainable and inclusive society.
The Muthoot Group, a leading financial services conglomerate in India, has reported strong financial results for the fourth quarter of fiscal year 2023. The group’s consolidated loan assets grew by Rs. 5,479 crores in the quarter, the highest ever quarterly growth. Consolidated profit after tax stood at Rs. 1,009 crores for the quarter.
Commenting on the company’s performance, George Jacob Muthoot, Chairman of Muthoot Group said, “We achieved highest ever consolidated loan assets growth in any Q4 of Rs. 5,479 crores. Consolidated Profit after tax for Q4 stood at Rs.1,009 crores. Our vision is to remain a leader in the gold loan business and at the same time cater to a large customer base with various loan products to meet their varied requirements.”
“In this process, we expect to grow the loan book by 10-15% during FY 24. We continue to engage in various social projects and have spent Rs.96 crores under CSR during FY23. We continue to share the profits generated during the year to our shareholders by paying an interim dividend of 220% ie., Rs.22/- per Equity Share of Rs.10/- each which involved a total payout of Rs.883 Crores”, he added.
