Manappuram Finance Ltd has reported a consolidated profit after tax of ₹261 crore for the fourth quarter, making a marginal decline of 0.02 per cent in comparison to the PAT of ₹261.01 crore reported in the preceding third quarter. Profit after tax for the full year stands at ₹1,328.70 crore.

The company’s full year consolidated AUM grew by 11 per cent to ₹30,260.82 crore from ₹27,224.22 crore reported in the previous fiscal. Operating income for the year stood at ₹6,061.02 crore, down by 4.26 per cent as compared to ₹6,330.55 crore in the previous fiscal.

The Board of Directors approved payment of an interim dividend of ₹0.75 per share of the face value of ₹2.

V.P. Nandakumar, MD & CEO, said: “Over the last fiscal year, we have restored the growth momentum in our micro finance, vehicle finance, and home loans businesses despite the disruptions from the third wave. At the same time, our core business of gold loans faced certain peculiar challenges arising from the intense price competition among the NBFCs which prevailed for much of the year thereby impacting our margins. However, we see this as a temporary phase as unhealthy competition will benefit no one.”

Gold businesses

The standalone gold loans AUM grew by 4.14 per cent to reach ₹19,867.35 crore. Aggregate gold loan disbursements during the quarter grew 22.41 per cent to ₹29,430 crore from ₹24,042 crore in Q3 of FY22. As of March 31, the number of live gold loan customers stood at 23.69 lakh.

Asirvad Microfinance reported brisk growth in business with an AUM of ₹7,002.18 crore from ₹5,984.63 crore.

The Vehicle and Equipment Finance division posted an AUM of ₹1,643.16 crore. The home finance subsidiary, Manappuram Home Finance Ltd recorded AUM of ₹845.27 crore against ₹666.27 crore. Overall, the non-gold businesses contributed a share of 33 per cent to the total loan book.

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