Manappuram Finance has registered a 10 per cent increase in consolidated net profit of at ₹405.44 crore in Q2 of FY21 against ₹367.97 crore reported in the preceding quarter.

The net profit for the standalone entity (which excludes subsidiaries) is reported at ₹405.56 crore, an increase of 20 per cent compared to ₹336.17 crore reported a year ago.

Total consolidated operating income during the quarter stood at ₹1,565.58 crore, an increase of 16.6 per cent. Consolidated assets under management (AUM) grew by 18.6 per cent to ₹26,902.73 crorefrom ₹22,676.93 crore.

The Board of Directors approved payment of interim dividend of ₹0.60 per share with face value of ₹2.

VP Nandakumar, Managing Director & CEO, said: “We are seeing robust demand for gold loans as economic activities recover ground in India, with our rural economy leading the way. Accordingly, we could maintain strong growth in gold loans helped by our digital infrastructure and our robust online gold loan platform.”

The company’s gold loan portfolio posted a strong growth of 30.1 per cent to ₹19,736.02 crore, from ₹15,168.34 crore in the year-ago quarter. The number of live gold loan customers stood at 25.6 lakh as of September 30.

Manappuram’s microfinance subsidiary, Asirvad Microfinance, ended the quarter with an AUM of ₹4,971.03 crore, a growth of 5.2 per cent compared to ₹4,724.25 crore in the year-ago quarter. With 23.04 lakh customers and 1,036 branches across 23 States/UTs, Asirvad Microfinance is now India’s fourth largest NBFC-MFI.

The company’s home loans subsidiary, Manappuram Home Finance,reported an AUM of ₹620.62 crore (₹567.93 crore), while its vehicles and equipment finance division ended the quarter with an AUM of ₹1,062.28 crore (₹1,317.76 crore).

The gross NPA stood at 1.11 per cent with net NPA reported at 0.68 per cent. The consolidated net worth stood at ₹6,450.83 crore as of September 30.

The book value per share stands at ₹76.24 and the its capital adequacy ratio (standalone) was at 24.8 per cent.

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