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Q3 Results Highlights 14 February: Manappuram, IIFL, Deepak Nitrite lead Q3 profit declines amid rising costs, slowing demand
Q3 Results Highlights February 14, 2025: Manappuram Finance reported a consolidated net profit of ₹278.46 crore for the December 2024 quarter, significantly down from ₹575.31 crore in the same period last year. However, its standalone net profit after tax rose more than 5% to ₹453.39 crore, with a net interest income (NII) growth of 13% year-on-year to ₹1,160 crore. In sharp contrast, IIFL’s consolidated net profit plummeted 85% to ₹81.71 crore, compared to ₹545.19 crore last year, with NII decreasing by 14% to ₹947 crore.
Meanwhile, Deepak Nitrite Ltd (DNL) experienced a 51% decline in Q3 FY25 profit, earning ₹98 crore, largely due to rising input costs and a slowdown in demand for agrochemical intermediates. Revenue fell by 5% to ₹1,924 crore, and EBITDA dropped 40% to ₹190 crore, causing margins to contract from 16% to 10%. Despite these challenges, Deepak Nitrite remains hopeful about a recovery in demand within the agrochemical sector. Signpost India and Senco Gold also reported declines in their net profits for the quarter.
