Stocks

Manappuram Finance shares gain as Q4 net profit jumps

PTI New Delhi | Updated on May 15, 2020

MSCI's broadest index of Asia-Pacific shares outside Japan erased an early decline and rose 0.3 per cent. File Photo   -  Reuters

Shares of Manappuram Finance on Friday jumped over 7 per cent after the company reported a nearly 44 per cent increase in net profit for the quarter ended March 2020.

On the BSE, the scrip advanced 7.23 per cent to Rs 131.90. It jumped 7.19 per cent to Rs 131.90 on the NSE.

The non-banking financial company on Thursday reported a nearly 44 per cent increase in net profit at Rs 398.20 crore for the quarter ended March 2020 on robust interest income.

It had posted a net profit of Rs 277.39 crore during the corresponding period of the preceding fiscal.

Total income during the quarter under review rose to Rs 1,618.15 crore as against Rs 1,166.51 crore a year ago, Manappuram Finance said in a regulatory filing.

Of this, the interest income was Rs 1,471.91 crore, Rs 1,085.80 crore higher than in the year-ago quarter.

For 2019-20, the company’s net profit soared 56 per cent to Rs 1,618.15 crore, as against Rs 948.55 crore in the previous year.

Published on May 15, 2020

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