The consolidated net profit of Manappuram Finance Ltd for Q1 jumped to Rs 268.91 crore, an increase of 35.27 per cent over Rs 198.79 crore recorded in the corresponding period of the previous fiscal.
The net profit of the standalone entity (which excludes subsidiaries) is reported at Rs 219.53 crore.
The total consolidated operating income stood at Rs 1174.48 crore in comparison to Rs 935.82 crore reported in the year ago quarter. The consolidated assets under management (AUM) grew by 21.47 per cent to Rs20,185.94 crore from Rs 16,617.78 crore .
The Board of Directors has approved payment of interim dividend of Rs 0.55 per share of face value of Rs 2.
The company’s Gold loan Assets under Management (AUM) increased by 6.65 per cent to Rs 13,292.41 crore. The gross NPA for the gold loans portfolio stood at 0.71 per cent while net NPA was contained at 0.45 per cent. The gold loans business added 1.45 lakh new customers while the aggregate gold loans disbursed during the quarter amounted to Rs 26,396 crore.
The company’s microfinance subsidiary, Asirvad Microfinance Ltd., ended the quarter with an AUM of Rs 4,198.30 crore compared to Rs 2,437.94 crore.
The home loans subsidiary, Manappuram Home Finance Ltd reported an AUM of Rs 541.66 crore (Rs. 406.51 crore) while its Vehicles & Equipment Finance division ended the quarter with an AUM of Rs 1,227.08 crore (Rs. 717.73 crore). The company’s non-gold loan businesses now account for a 34 per cent share of its consolidated AUM.
VP Nandakumar, MD & CEO, said, “Our performance during the quarter represents a strong beginning for the current fiscal year. We have achieved good growth across all our verticals which is particularly satisfying considering the challenging macro environment and tight liquidity.”