BBN Bureau
KOCHI/February 15-2022: Manappuram Finance reported a consolidated net profit of Rs261.01 crore for the quarter ending December 31, 2021 (Q3), representing a decline of 45.98 per cent compared with Rs483.19 crore reported in the year-ago quarter.
The company has recommended a cash dividend of 37.5 per cent or Re0.75 per share with a face value of Rs2.
The company’s consolidated assets under management (AUM) grew by 10 per cent to Rs30,407.13 crore from Rs27,642.48 crore a year ago, and by 6.99 per cent in comparison with Rs28,421.63 crore reported in the preceding quarter (Q2).
Net profit for the standalone entity (which excludes subsidiaries) stood at Rs259.06 crore as against Rs465.29 crore in the year-ago quarter.
Operating profit
Total consolidated operating income for the quarter amounted to Rs1,484.45 crore compared with Rs1,643.81 crore in the year ago quarter.
V.P. Nandakumar, MD & CEO (seen in the picture), said Q3 was marked by disruptions due to the surge in the Omicron variant. “However, we achieved good growth in business volumes from our core business of gold loans as also in vehicle finance and home loans,” Nandakumar added.
Gold loan portfolio flat
The company’s standalone gold loan portfolio was flat at Rs20,270.74 crore against Rs20,211.58 crore in the comparable quarter of last fiscal.
However, the same represents a strong growth of 8.29 per cent in comparison to Rs18,719.53 crore in the preceding quarter. The number of live gold loan customers stood at 24.9 lakh, a decline of 4.97 per cent over the year-ago level.
Gross NPA at 1.36 pc
The gross NPA (standalone) stood at 1.36 per cent with net NPA reported at 1.03 per cent. The company’s consolidated net worth stood at Rs8,160.37 crore as of December 31, 2021. The book value per share was at Rs96.41 and its capital adequacy ratio (standalone) stood at 30.16 per cent.
