Money & Banking

Manappuram Finance fiscal net profit up 30%

V Sajeev Kumar Kochi | Updated on January 20, 2018

Manappuram Finance Ltd has posted a 30 per cent increase in its net profit at ₹353.36 crore in FY'16 compared with ₹271.31 crore reported in FY'15.

Operating income stood at ₹2,360.23 crore, higher by 18.8 per cent, in comparison with ₹1,986.42 crore recorded in the previous fiscal.

An interim dividend of ₹0.45 per share for the quarter was earlier declared in March this year. Accordingly, the board has not proposed any further dividend. Total dividend for the year amounted to ₹1.80 per share.

V P Nandakumar, Managing Director & CEO, said, “Wth this performance, we can say with conviction that we are back on the growth path. Our new businesses have done well and we look forward with optimism to the prospect of becoming a diversified NBFC.”

The company’s consolidated assets under management also rose to ₹ 11,433 crore from ₹9,593 crore recorded in the previous fiscal year.

The recent diversification into new business areas has gained further traction with new businesses now contributing about 12 per cent of its consolidated AUM. Microfinance subsidiary, Asirvad Microfinance Pvt Ltd, had ended the year with an AUM of ₹998.82 crore, representing a growth of 210 per cent over ₹322 crore.

Commercial vehicle loans and mortgage-based finance (housing loans and loans against property) have contributed ₹302.52 crore to the total AUM. Their contribution in the preceding fiscal year was ₹44.80 crore.

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Published on May 13, 2016
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