Manappuram’s First Quarter Net Profit Up 18.72 per cent at Rs. 199 crore

Manappuram

Kochi: Manappuram Finance Ltd. has declared its first quarter results. Consolidated net profit for the quarter ended June 30, 2018 jumped to Rs. 198.77 crore, an increase of 18.72 per cent over Rs. 167.43 crore recorded in Q1 of the previous fiscal. Net profit for the quarter of the standalone entity (which excludes subsidiaries) is reported at Rs.171.61 crore.

Total consolidated operating income during the quarter stood at Rs. 935.82 crore, an increase of 12.56 per cent in comparison to Rs. 831.38 crore reported in the year-ago quarter. Consolidated assets under management (AUM) grew by 24.20 per cent to Rs.16,617.78 crore, from Rs. 13,379.84 crore reported in the same quarter the previous year.

The company’s microfinance subsidiary, Asirvad Microfinance, ended the quarter with an AUM of Rs. 2,437.94 crore, a growth of 33.43 per cent compared to Rs. 1,827.12 crore recorded in Q1 of the previous fiscal. Its home loans subsidiary, Manappuram Home Finance Pvt. Limited, reported an AUM of Rs 406.51 crore while its Commercial Vehicles division ended the quarter with an AUM of Rs. 717.73 crore. In aggregate, the company’s non-gold loan businesses have contributed 25 per cent of its total consolidated AUM.

Sharing the results with the media, V P Nandakumar, MD & CEO, said, “Our performance during the quarter is quite creditable and it gives us a good base for setting more ambitious target for growth and profitability in the current year.”