Consolidated net profit of Manappuram Finance for the quarter ended September 30, was reported at Rs 192.39 crore, a distinct increase of 205.2 per cent from Rs 63.02 crore posted in the second quarter of the previous financial year. Net profit increased by 20 per cent over the previous June quarter to Rs 160.34 crore. The company's half yearly net profit was recorded at Rs 352.73 crore. While the full year net profit was Rs 353.36 crore for the financial year 2015-16.
Total consolidated operating income during the quarter witnessed an increase of 52.4 per cent to Rs 842.25 crore. As compared to this the operating income was valued at Rs 552.52 crore during same quarter in the previous year.
The Board of Directors permitted the payment of interim dividend of Rs 0.50 per share of face value of Rs 2 each. The company's consolidated Assets under Management (AUM) stood at Rs 14,490 crore, an increase of 41.8 per cent compared to Rs 10,220 crore posted a year ago. Consolidated AUM was reported at Rs 13,014 crore for the previous June quarter. The company also registered a strong 30 per cent growth in its gold loan AUM to Rs 12,382.7 crore against Rs 9,523.90 crore reported for the equivalent quarter last year.
Meanwhile, at 11:22 AM, Manappuram share price was trading at Rs. 93.70 with the decline of 8%.
The aggregate gold loans laid out during the quarter amounted to Rs. 14,901 crore. During the quarter, the gold loans business added 3.98 lakh new customers taking the figure of live gold loan customers to 21.83 lakh as on September 30.
Besides gold loans, the company’s new businesses persisted to gather momentum. The microfinance subsidiary, Asirvad microfinance, ended the quarter with an AUM of Rs.1,570.48 crore compared with Rs. 539 crore. The home loans subsidiary posted an AUM of Rs. 213.35 crore against Rs. 170.48 crore. Commercial vehicle loans reported an AUM of Rs. 212.59 crore compared with Rs. 168.
According to V.P. Nandakumar, MD & CEO, these new businesses have stabilized and are on the brink to scale up significantly in the coming quarters. Further, the input of new businesses to the consolidated AUM has increased to 15 per cent compared to 11 per cent in the previous quarter.
Manappuram is the Multibagger recommendation for the quarter by Dynamic Levels. For the details on Manappuram, visit Manappuram share price history page of Dynamic Levels website.
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