Manappuram Finance clocks 11.7% rise in net profit at ₹556.5 crore in Q1 FY25

Posted on by

Manappuram Finance has reported a consolidated net profit of ₹556.5 crore for the first quarter of FY25, reflecting 11.7 per cent increase compared with ₹498 crore in Q1 FY24.

The consolidated assets under management (AUM) for Q1 reached ₹44,932 crore, marking a 21 per cent increase and a 6.8 per cent rise quarter-on-quarter. The standalone net profit for the quarter, excluding subsidiaries, was ₹441 crore.

Total consolidated operating income for the quarter was ₹2,488 crore, a 23 per cent increase from the same quarter last year. The consolidated gold loan portfolio saw a 14.8 per cent increase to ₹23,647 crore compared with the first quarter of FY24, with the number of live gold loan customers at 2.6 million as of June 30, 2024.

Gold loan

V P Nandakumar, MD and CEO, said, “We were able to achieve significant growth in gold loan AUM in this quarter, registering nearly 15 per cent growth year-on-year and 10 per cent sequentially. Our non-gold verticals are also growing, contributing notable gains in AUM and net profit.”

Asirvad Microfinance Ltd concluded the quarter with an AUM of ₹12,310 crore from ₹10,141 crore and a net profit of ₹100 crore. Manappuram Home Finance, the home loans subsidiary, clocked an AUM of ₹1,587 crore. The vehicles and equipment finance division’s AUM reached ₹4,541 crore, showing a significant 63.4 per cent increase.

The non-gold loan businesses now represent 47 per cent of its consolidated AUM. The average borrowing cost for the standalone entity was 9 per cent in Q1 FY24, compared with 8.3 per cent in the year-ago quarter. Gross NPA stood at 1.96 per cent and net NPA at 1.7 per cent.

As of June 30, 2024, the company’s consolidated net worth was ₹12,021 crore, with a book value per share of ₹142. The standalone capital adequacy ratio was 29.6 per cent. Consolidated total borrowings were ₹38,463 crore and the total number of live customers reached 6.8 million.