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Manappuram Finance Limited has registered a 125 per cent growth in its net profit for the quarter ended September 30, to touch Rs 135.3 crore, compared to Rs 60.18 crore for Q2 of last year. The half-yearly net profit is also up by 129 per cent at Rs 243.13 crore as compared Rs 106.33 crore for H1 of 2010-11.
The company registered a growth of 115 per cent in its Assets under Management (AUM) to Rs 10,601 crore as against Rs 4,929.7 crore for Q2 of last fiscal. This follows the increase in aggregate gold loan disbursements during the quarter to Rs 9,011 crore, compared to the amount of Rs 4,535 crore disbursed during Q2 of last fiscal.
The operating income for the quarter moved up by 155 per cent to Rs 619.91 crore compared to Rs 243.18 crore for Q2 of the previous fiscal. The PBT for the quarter increased to Rs 200.3 crore (Rs 90.03 crore in Q2 of the previous fiscal year) while provision for income tax stood at Rs 65 crore (Rs 30 crore in Q2 of the previous fiscal year).
The company has opened 223 new branches during the quarter taking its national network to 2,503 branches spread across 23 states and UTs.
A net total of 1.5 lakh customers were added during the quarter, extending the total customer base to 15.19 lakh.
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