Manappuram Finance Q3 results: Net profit rises 17% to Rs 483 crore.

Friday, January 29 2021

Economic Times

Manappuram Finance has reported a consolidated net profit of Rs 483.19 crore in Q3 of FY21, a significant increase of 16.64 per cent over Rs 414.26 crore recorded in the same quarter in FY20 a year ago. 

Net profit of the standalone entity (which excludes subsidiaries) is reported at Rs 465.29 crore.

Total consolidated operating income during the quarter stood at Rs 1643.81 crore, a growth of 14.46 per cent over Rs 1436.19 crore reported in Q3 of the previous fiscal. Consolidated assets under management (AUM) grew by 14.70 per cent to Rs 27,642.48 crore, from Rs 24,099.95 crore a year ago.  

The board of directors has approved payment of an interim dividend of Rs 0.65 per share of the face value of Rs 2.

Announcing the results, Mr V.P. Nandakumar, MD & CEO, said, “Once again, our results have been in line with our guidance. During this quarter, while gold loans did well, the turnaround in our microfinance subsidiary is particularly noteworthy. We are now confident that the pandemic related woes are behind us, and look forward to good growth in all our businesses in the coming days.”  

The company’s gold loan asset under management (AUM) increased by 24.43 per cent to Rs 20,211.58 crore, from Rs16,242.95 crore in the year-ago quarter. Aggregate gold loan disbursement was at Rs 57,445.14 crore while the number of live gold loan customers stood at 26.2 lakh (as of December 31, 2020).   Read More

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