Manappuram Finance Ltd has reported a consolidated profit after tax of ₹564 crore for the fourth quarter ended March 31, 2024, a growth of 35.7 per cent compared to ₹415 crore reported in the same quarter of the previous year. The full-year PAT stands at ₹2,198 crore, a 47 per cent increase.
The company’s consolidated Assets under Management (AUM) grew by 18.7 per cent to ₹42,070 crore from ₹35,428 crore in the previous fiscal year. Operating income for the year reached ₹8,848 crore, up by 32 per cent from ₹6,697 crore in the previous fiscal.
The Board of Directors approved an interim dividend of ₹1 per share of face value ₹2.
V.P. Nandakumar, MD & CEO, Manappuram Finance Ltd, said, “Our performance in non-gold segments such as microfinance, commercial vehicles and home loans is exceptionally encouraging. In our core business of gold loans too, we’ve achieved commendable increase over the previous fiscal, and I have no doubt that we will not only maintain the rate of growth but also improve upon it in the coming year.”
Gold loans AUM grew by 8.9 per cent to ₹21,500 crore over the previous year and increased by 3.6 per cent compared to the previous quarter. As of March 31, the number of live gold loan customers stood at 2.5 million.
Asirvad Microfinance Ltd, the company’s microfinance subsidiary, reported an AUM of ₹11,881 crore, up by 18 per cent from the previous fiscal year. The Vehicle and Equipment Finance division closed the year with an AUM of ₹4,111 crore, showing a 69 per cent growth.
Manappuram Home Finance Ltd achieved an AUM of ₹1,510 crore, a growth of 38 per cent over the previous fiscal year. Overall, non-gold businesses contributed 49 per cent to the company’s loan book.