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Manappuram’s Q1 Net Profit up 18.72 % at Rs. 199 Crore

Published in Corporate Friday, 10 August 2018 17:46

 

 

 

 

Manappuram Finance Ltd. has declared its first quarter results. Consolidated net profit for the quarter ended June 30, 2018 jumped to Rs. 198.77 crore, an increase of 18.72 percent over Rs. 167.43 crore recorded in Q1 of the previous fiscal. Net profit for the quarter of the standalone entity (which excludes subsidiaries) isreported at Rs.171.61 crore.

 

Total consolidated operating income during the quarter stood at Rs. 935.82crore, an increaseof 12.56 percent in comparison to Rs. 831.38 crore reported in the year ago quarter. Consolidated assets under management (AUM) grew by 24.20 percent to Rs.16,617.78¬¬¬¬¬¬¬¬crore, from Rs. 13,379.84 crore reported in the year ago quarter. 

The Board of Directors, which met at Valapad today to consider the results, approved payment of interim dividend of Rs. 0.55per share of face value of Rs. 2/-

The company’s Gold loan Assets under Management (AUM)went up by 16.19 percent to Rs.12,463.60 crore, from Rs.10,727.31crore in Q1 of preceding fiscal year. The gold loans business added 3.42 lakh new customerswhile the aggregate gold loans disbursed during the quarter amounted to Rs. 23,119 crore. The number of live gold loan customers stood at 23.2 lakhs as of June 30, 2018.

The company’s microfinance subsidiary, Asirvad Microfinance, ended the quarter with an AUM of Rs 2,437.94crore, a growth of 33.43 percent compared to Rs.1,827.12crore recorded in the year ago quarter. Its home loans subsidiary, Manappuram Home Finance Pvt. Limited, reported an AUM of Rs406.51 crore (Rs. 319.63 crore) while its Commercial Vehicles divisionended the quarter with an AUM of Rs. 717.73 crore (Rs.343.74 crore). In aggregate, the company’s non-gold loan businesses have contributed25 percent of its total consolidated AUM.  

Sharing the results with the media, Mr. V.P.Nandakumar, MD & CEO, said, “Our performance during the quarter is quite creditable and gives us a good base on which to aim at more ambitious targets for growth and profitability in the current year.”

Average borrowing costs went up marginallyby 11bps during the quarter, to8.77percent. The average borrowing cost has declined by 63 bps over the last one year and by 158 bps in the last two years. The company’s consolidated net worth stood at Rs 3,986.00crore as of June 30, 2017. The book value per share stood at Rs.47.31and  itscapital adequacy ratio was at 25.50 percent. The total borrowings of the company stood at Rs.13,439 crore while the total number of live customers stood at 38.64lakhs as on June 30, 2018.

 

 

Manappuram Finance Ltd. is one of India’s leading gold loans NBFCs engaged in providing finance against used household gold ornaments. Incorporated in 1992, the company has been promoted by Mr. V.P. Nandakumar (current MD & CEO) whose family has been involved in gold loans since 1949. It is headquartered at Valapad in the Thrissur District of Kerala.  The company went public in August 1995 and its shares are listed on the BSE and NSE stock exchanges.   

 

As of June 30, 2018, the Company had 4208 branches across 24 states and 4 UTs with Assets under management (AUM) of Rs 16,618crore. The company’s net worth stood at Rs. 3,986crore. 

 

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