Manappuram Finance Ltd reported a consolidated net profit of ₹393.49 crore for the quarter-ended December 31. The profit was 51 per cent higher compared to ₹2,61.01 crore reported in the year-ago quarter and down by 4 per cent compared with the previous quarter. The company’s consolidated assets under management (AUM) grew 5 per cent to ₹31,883.37 crore from ₹30,407.13 crore a year ago.

Net profit for the standalone entity (which excludes subsidiaries) registered an increase of 23 per cent to reach ₹318.32 crore against ₹259.06 crore in the year-ago quarter but went down by 9 per cent sequentially. Total consolidated operating income for the quarter amounted to ₹1,714.12 crore compared to ₹1,484.45 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.

VP Nandakumar, MD & CEO, said, “It is heartening that we have posted an increase in profit of 51 per cent year-on-year.” He also expressed satisfaction about the performance of Asirvad, the microfinance subsidiary, which posted an impressive growth in profit as well as AUM.

Gold loan

The company’s gold loan portfolio stood at ₹18,614.13 crore while the number of live gold loan customers reached nearly 23.7 lakh in this period. The microfinance subsidiary Asirvad Microfinance posted an increased AUM of ₹8,653.45 crore, up 22.05 per cent compared to ₹7,090.15 crore in the year-ago quarter.

Manappuram Home Finance Ltd reported an AUM of ₹1,004.80 crore (₹816.65 crore in Q3 of FY2022) registering a y-o-y growth of 23 per cent while its Vehicles & Equipment Finance division posted an AUM of ₹2112.12 crore (₹1,509.67 crore in Q3 of FY2022).

The company’s non-gold loan businesses account for 42 per cent share of its consolidated AUM. The consolidated net worth stood at ₹9,279 crore for the quarter, registering an increase of 14 per cent.

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