Manappuram Finance posts 59% rise in Q4 profits  

Kochi, May 12thManapuram Finance Limited It reported a consolidated PAT of Rs 415 crore for the fourth quarter in FY23, a growth of 59 per cent. The company reported a consolidated PAT of Rs. 261 crore in the corresponding quarter of the previous year.

PAT for the full year is ₹1,500 crore, an increase of 12.9 per cent.

The company’s consolidated assets under management (AUM) grew by 17.2 per cent to ₹35,452 crore from ₹30,261 crore reported in the previous financial year. Operating income for the year was ₹6,684 crore, an increase of 10.3 per cent as against ₹6,061 crore recorded in the previous financial year.

The Board of Directors agreed to pay an interim dividend of €0.75 per share of a par value of ₹2.

“amazing growth”

VP Nandakumar, Managing Director and CEO said: “In the wake of demand returning to pre-Covid levels, we have been able to record impressive growth in the microfinance segment in terms of both assets under management and PAT. In other non-gold segments such as home loans and commercial vehicles, The picture is very encouraging. In our core business of gold loans, we recorded a 6 percent increase over the previous quarter, and I’m sure we will make further progress in the following quarters.”

is reading:Manapuram Finance says enforcement action is against the promoter, not the company

The company’s gold loans AUM grew by 6.1 per cent over the previous quarter to Rs. 19,746 crore, but this is 2.1 per cent lower than the corresponding quarter in the previous year (Rs. 20,168 crores). As of 31st March 2023, the number of live gold loan customers is 24.1 lakhs.

Asirvad Microfinance Ltd, the company’s microfinance subsidiary, posted a significant gain in the business, ending the year with assets under management of Rs.10,041 crore, an increase of 43.4 per cent.

The Vehicle and Equipment Finance division closed the year at AUM of Rs. 2,455 crore, showing an increase of 49.4 per cent.

The company’s subsidiary, Manapuram Home Finance, ended the year with assets under management of Rs. 1,096 crore, a growth of 29.7% as against Rs. 845 crore achieved in the previous financial year.

Overall, the non-gold business contributed 44.3 percent of the company’s total loan book.

is reading:VP Nandakumar, Manappuram Finance has been awarded the Hurun India Award

The combined net worth was Rs. 9,644.9 crores as of 31st March 2023. The book value per share was reported at INR 113.95. Consolidated earnings per share (EPS) for the year was Rs.17.7, while the capital adequacy ratio (stand-alone) was maintained at 31.70 per cent.

The net NPA position of the independent entity was 1.15 percent, and the total NPA position was 1.33 percent. On a consolidated basis, the company’s total borrowings were Rs. 28,483 lakh while direct customers totaled Rs. 58.8 lakh as of March 31, 2023.