Manappuram Finance consolidated net profits up 40pc

The Net profit for the quarter of the standalone entity (which excludes subsidiaries) is reported at Rs 192.75 crore.

Published: 07th November 2018 07:30 AM  |   Last Updated: 07th November 2018 07:30 AM   |  A+A-

Manappuram Finance (File photo | PTI)

By Express News Service

KOCHI: Manappuram Finance declared a consolidated net profit of Rs 221 crore for the quarter ended September 30, a jump of 40 per cent over the Rs 158 crore recorded in Q2 of the previous fiscal on Tuesday.
The Net profit for the quarter of the standalone entity (which excludes subsidiaries) is reported at Rs 192.75 crore. The total consolidated operating income during the quarter stood at Rs 1,014.44 crore, an increase of 22 per cent in comparison to Rs 830 crore reported in the year-ago quarter.

Consolidated assets under management (AUM) grew by 25 per cent to Rs 17,190 crore, from Rs 13,723 crore reported in the year-ago quarter. An interim dividend of Rs 0.55 per share of face value of Rs 2 was declared by the company.  The company’s gold loan assets under management (AUM) went up by 17 per cent to Rs 12,592 crore, from Rs 10,760 crore in the year-ago quarter.

V P Nandakumar, MD & CEO, said, “Our performance during the quarter builds well upon the base established by our first quarter results. We remain on course to deliver good growth and profitability in the current year.”

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