Money & Banking

Manappuram Finance Q3 profit rises 63% to ₹398 cr

Our Bureau Kochi | Updated on January 28, 2020 Published on January 28, 2020

Manappuram Finance has posted a 63 per cent rise in net profit in Q3 of the current fiscal at ₹397.84 crore when compared to the ₹244.11 crore recorded in the same quarter of the preceding fiscal year.

The net profit of the standalone entity (which excludes subsidiaries) is ₹332.42 crore. Importantly, the company’s consolidated net profit in the first nine-months of the current fiscal year has crossed the ₹1,000-crore-mark.

The total consolidated operating income during the quarter stood at ₹1,399.02 crore, a growth of 29.40 per cent. The consolidated AUM grew by 35.52 per cent to ₹24,099.95 crore, from ₹17,783.10 crore a year ago.

The board also approved payment of an interim dividend of ₹0.55 per share of the face value of ₹2.

Gold loan AUM increased by 29.69 per cent to ₹16,242.95 crore, from ₹12,524.91 crore in the year-ago quarter. The gold loan business also added 3.25 lakh new customers and disbursed loans worth ₹40,304.26 crore in aggregate in the quarter. The number of live gold loan customers stood at 26.4 lakh as of December 31, 2019.

The micro finance subsidiary, Asirvad Microfinance, ended the quarter with an AUM of ₹5,022.14 crore when compared to ₹3,195.16 crore. The home loans subsidiary, Manappuram Home Finance, reported an AUM of ₹601.23 crore, while the vehicles and euipment dinance division reported an AUM of ₹1,397.40 crore.

VP Nandakumar, MD and CEO, said: “Our performance so far in the current fiscal is in line with our guidance.

“All our subsidiaries and business verticals have made worthwhile contributions to the overall performance. We now look forward to a strong finish in the fourth quarter.”

Published on January 28, 2020
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