Money & Banking

Manappuram Finance Q4 net profit up 43% at Rs 255 cr

Our Bureau Kochi | Updated on May 16, 2019 Published on May 16, 2019

VP Nandakumar, MD and CEO, Manappuram Finance   -  Bijoy Ghosh

The consolidated net profit of Manappuram Finance Ltd in Q4 of FY19 has recorded 43 per cent growth at Rs 255.59 crore against Rs 179.05 crore in the corresponding period of the previous fiscal.

The company reported a full year consolidated PAT of Rs 919.87crore, an increase of 36 per cent over the previous year. The operating income stood at Rs 4,116 crore, up by 20.33 per cent over the previous year’s figure of Rs 3,421 crore.

The board has approved payment of interim dividend of Rs 0.55 per share of face value of Rs 2. Accordingly, the dividend for the year amounts to Rs 2.20 per share.

VP Nandakumar, MD & CEO, said, “Overall, this has been a very good year for us. We were able to end the year on a positive note with strong Q4 numbers. Moreover, our new businesses have started to deliver on their potential, not only growing faster, but also contributing meaningfully to profitability. We are now confident we will be able to carry the momentum into the next fiscal.”

The company’s AUM stood at Rs 19,438 crore, registering a growth of 23.30 per cent compared to Rs 15,765 crore in the previous year. The growth was led by gold loans, which grew by 10.45 per cent, to reach Rs 12,961.5 crore. This was enabled by the growth in gold holdings, which went up from 64 tonnes to stand at 67.5 tonnes, an increase of 5.5 per cent over the year.

Aggregate gold loan disbursements during the year went up to Rs 89,649 crore from Rs 62,155 crore in the previous year. As of March 31, the number of live gold loan customers stood at 24 lakh.

The contribution of non-gold businesses to overall business rose from 25.5 per cent last year to 33.3 per cent. The growth was led by its microfinance subsidiary, Asirvad Microfinance Pvt Ltd, which ended the year with an AUM of Rs 3,841 crore, registering a growth of 57.6 per cent compared to Rs 2,437 crore reported in the previous fiscal.

Published on May 16, 2019

A letter from the Editor

Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.