Money & Banking

Manappuram Finance Q4 profit rises 53 per cent to ₹393 crore

Our Bureau Kochi | Updated on May 15, 2020

The gold loan lender Manappuram Finance Ltd has posted a 53 per cent increase in its consolidated net profit for the fourth quarter at ₹392.7 crore against ₹274.6 crore recorded in the year-ago quarter.

The PBT for the fourth quarter was reported at ₹534 crore against ₹409 crore in the corresponding quarter last year.

The company reported a full-year consolidated PAT of ₹1,461.8 crore, an increase of 55.7 per cent over the previous year’s figure of ₹938.9 crore. The operating income for the year stood at ₹5,465 crore, up by 30.8 per cent over the previous year’s figure of ₹4,179 crore.

VP Nandakumar, MD & CEO, said: “We ended fiscal year 2019-20 on a strong note, recording good growth in business and profitability in the fourth quarter despite the setback towards the end related to Covid-19. Going forward, we feel we are well positioned to tackle the economic fallout of Covid and maintain the momentum in this year too.”

The company’s AUM stood at ₹25,225 crore, up by 29.8 per cent compared to ₹19,438 crore in the previous year. The growth was led by gold loans which grew by 30.90 per cent to ₹16,967 crore. The gold holding went up from 67.5 tonnes to 72.4 tonnes. Aggregate gold loan disbursements during the year went up to ₹1,68,909 crore from ₹89,649 crore. As of March 31, the number of live gold loan customers stood at 26.2 lakh.

The company’s microfinance subsidiary, Asirvad Microfinance Ltd closed the year with an AUM of ₹5,503 crore over ₹3,841 crore. The Vehicle and Equipment Finance division grew its AUM at ₹1,344.35 crore, while the company’s home finance subsidiary contributed ₹630 crore to the total AUM. Overall, the non-gold businesses contributed a share of 32.7 per cent to the total portfolio.

The company’s consolidated net worth stood at ₹5,745 crore as of March 31. The book value per share stands at ₹ 68 consolidated earnings per share is reported at 17.54. The net NPA position stood at 0.47 per cent, and gross NPA at 0.88 per cent.

Published on May 15, 2020

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