Its share of stressed assets rose to 3.5 per cent in September 2024 from 1.8 per cent a year ago. George Alexander Muthoot, managing director of Muthoot Finance, said: "In the microfinance, there was no growth in the last quarter. I think for the next two, three quarters, it will be consolidation time".Its loan assets under management grew 22 per cent year-on-year (Y-o-Y) to ₹9,625 crore. However, sequentially, they shrank from ₹9,951 crore.The MF I unit posted a drop in net proflt to ₹52.6 crore in Q2FY25 from ₹83.1 crore ayear ago and ₹89.8 crore in Ql FY25. Its stage three assets grew to ₹298 crore in September 2024 from ₹95.7 crore a year ago. In non-banking flnance companies (NBFCs), stage 3 assets are loans that have been overdue for more than 90 days. Muthoot Finance holds 66.13 per cent stake in Belstar.Muthoot said, "All microfinance institutions are going through a tough time. But we are actually better than most of the other companies."

Belstar Microfinance to focus on consolidation over growth

34,1526,469,93,2020,3101

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