Manappuram Finance Ltd has reported a consolidated net profit of ₹409.48 crore in Q2 FY23, a growth of 11 per cent compared to ₹369.88 crore reported in the year-ago quarter.
The consolidated assets under management (AUM) also grew by 8 per cent to ₹30,664.96 crore from ₹28,421.63 crore from a year ago.
Net profit for the standalone entity (which excludes subsidiaries) was at ₹348.71 crore against ₹355 crore in the year-ago quarter but registered an increase of 20 per cent sequentially. Total consolidated operating income for Q2 amounted to ₹1,696.26 crore compared to ₹1,531.92 crore in the year-ago quarter.
The Board of Directors approved payment of interim dividend of 0.75 per share with face value of ₹2.
V.P. Nandakumar, MD and CEO, said, “I am pleased to note that we have posted a sequential increase in profit of 45 per cent. It is in line with our commitment to maintain operational efficiency even as we target growth.”
The company’s gold loan portfolio remained at ₹19190 crore, while the number of live gold loan customers reached 24.1 lakh in this period. Manappuram’s microfinance business ended the quarter with an AUM of ₹7,118.10 crore, an increase of 1.25 per cent in comparison to ₹7029.90 crore in the year-ago quarter.
Manappuram Home Finance Ltd. reported an AUM of ₹921.58 crore (₹732.19 crore in Q2 FY22) while its Vehicles and Equipment Finance division posted an AUM of ₹1,885.53 crore (₹1,267.08 crore in Q2 FY22).