Manappuram Finance post 2% rise in Q2 net profit at ₹572 crore
Manappuram Finance Ltd has reported a consolidated net profit of ₹572.1 crore for the second quarter of FY25, reflecting a 2.8 per cent increase compared to ₹556.5 crore in Q1 FY25.
The consolidated Assets Under Management (AUM) for Q2 reached ₹45,716.3 crore, marking a 17.4 per cent increase year-on-year and a 1.7 per cent rise quarter-on-quarter. The standalone net profit for the quarter, excluding subsidiaries, was ₹ 474.9 crore.
Total consolidated operating income for the quarter was ₹2,633.1 crore, a 22.1 per cent increase from the same quarter last year. The company’s consolidated gold loan portfolio saw a 17.1 per cent increase to ₹24,365 crore compared to the year-ago quarter, with the number of live gold loan customers at 2.66 million as of Sept 30, 2024.
V.P. Nandakumar, MD & CEO, said “Despite some headwinds, we are adequately capitalised with a capital adequacy ratio of 29.22 per cent for the quarter ended September 2024 on standalone entity which is in line with peers and well above the regulatory requirement. Overall, it was a good quarter for our business across verticals.”
Asirvad Microfinance Ltd concluded the quarter with an AUM of ₹12,149 crore, a 10.95% growth from ₹10,949.8 crore in the same period last year, and a net profit of ₹75 crore. Manappuram Home Finance, continues its steady growth with an AUM of ₹1,691.6 crore. The Vehicles & Equipment Finance division’s AUM reached ₹4,848.2 crore.