Manappuram Finance Ltd reported a consolidated net profit of Rs 393.49 crore for the quarter ended December 31. previous quarter. The company’s consolidated assets under management (AUM) grew by 5 per cent to ₹31,883.37 crore from ₹30,407.13 crore a year ago.
Net profit for the stand-alone entity (which excludes subsidiaries) registered an increase of 23 per cent to reach ₹318.32 crore from ₹259.06 crore in the prior year quarter, but decreased a 9 percent sequentially. Consolidated total operating income for the quarter amounted to ₹1,714.12 crore compared to ₹1,484.45 crore in the prior-year quarter.
The Board of Directors approved the payment of an interim dividend of ₹0.75 per share with a par value of ₹2.
VP Nandakumar, MD & CEO, said: “It is encouraging that we have posted a 51 per cent increase in profit year-over-year.” He also expressed his satisfaction with the performance of Asirvad, the microfinance subsidiary, which posted impressive growth in earnings and AUM.
The company’s gold loan portfolio stood at ₹18,614.13 crore, while the number of live gold loan clients reached almost 23.7 lakhs in this period. Microfinance subsidiary Asirvad Microfinance recorded an AUM increase of Rs 8,653.45 crore, an increase of 22.05% compared to Rs 7,090.15 crore in the prior-year quarter.
Manappuram Home Finance Ltd reported an AUM of ₹1,004.80 crore (₹816.65 crore in Q3 FY2022) registering a year-on-year growth of 23%, while its Vehicles & Equipment Finance division posted a AUM of ₹2,112.12 crore (₹1,509.67 crore in Q3 FY2022).
The company’s non-gold lending business accounts for 42 percent of its consolidated AUM. Consolidated net worth stood at ₹9,279 crore for the quarter, registering an increase of 14 per cent.
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