Manappuram Finance Q4 Results: Net Profit surges 47% to 2,198 cr

Manappuram Finance

Manappuram Finance Limited recorded a consolidated Profit After Tax (PAT) of Rs 564 crore for the fourth quarter ended March 31, 2024, up 35.7 per cent from Rs 415 crore reported in the same quarter the previous year. The full-year PAT stands at Rs 2,198 crore, representing a 47 per cent rise year on year.

The company’s consolidated Assets under Management (AUM) increased by 18.7 per cent to Rs 42,070 crore from Rs 35,428 crore the previous fiscal year. Operating income for the year was Rs 8,848 crore, up 32 per cent from Rs 6,697 crore in the previous fiscal.

The Board of Directors approved an interim dividend of Rs.1 per share of face value of Rs 2. V.P. Nandakumar, MD & CEO, Manappuram Finance said: “We are delighted to announce impressive growth in net profit for the full year. Our performance in non-gold segments such as microfinance, commercial vehicles and home loans is exceptionally encouraging. In our core business of gold loans too, we’ve achieved commendable increase over the previous fiscal, and I have no doubt that we will not only maintain the rate of growth but also improve upon it in the coming year.”

The AUM of gold loans increased by 8.9 per cent to Rs 21,500 crore over the previous year and 3.6 per cent from the preceding quarter. As of March 31, 2024, there were 2.5 million live gold loan customers.

Asirvad Microfinance Ltd., the company’s microfinance business, reported an AUM of Rs 11,881 crore, up 18 per cent from the previous fiscal year. The Vehicle and Equipment Finance division ended the year with an AUM of Rs 4,111 crore, representing a 69 per cent year-over-year increase.

Manappuram Home loan Ltd., the company’s home loan business, reported an AUM of Rs 1,510 crore, a 38 per cent increase over the previous fiscal year. Non-gold firms accounted for 49 per cent of the company’s loan book.

The company’s combined net worth was Rs 11,548 crore as of March 31, 2024, with a book value per share of Rs 136.4. The consolidated earnings per share (EPS) for the year were Rs 26, and the capital adequacy ratio (standalone) remained at 30.6 per cent. The standalone entity’s net NPA situation was 1.70 per cent, with a gross NPA of 1.93 per cent. On a consolidated basis, the company’s total borrowings were Rs 33,654 crore, with 6.8 million active clients as of March 31, 2024.

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