Kochi: The consolidated net profit of Manappuram Finance Ltd. for the second quarter ended September 2017 stood at Rs.160.37 crore, a decline of 16.6 % from a year ago.

Total consolidated operating income during the quarter stood at Rs.830.03 crore a drop by 1.5 % from a year earlier. The company’s consolidated assets under management (AUM) was reported at Rs.13,723 crore, down from Rs. 14,490 crore in the year ago quarter.

The board of directors approved payment of interim dividend of Rs. 0.50 per share of face value of Rs. 2/-. Sharing the results with the media, V P Nandakumar, MD & CEO, said, “After demonetization, the company went through three quarters without growth but now our consolidated AUM has grown by 2.6 percent over the preceding quarter. The pick-up in the rural economy following good monsoon has brightened prospects.”

The company’s gold loan AUM grew marginally to Rs. 10,761 crore, as against Rs.10,738 crore reported in the first quarter. Gold loan AUM stood at Rs. 12,396 crore in the year ago quarter. The total number of live gold loan customers stands at 21.59 lakhs as on September 30, 2017.
The company’s long term credit rating was upgraded by CARE Ratings to AA (stable) during the quarter.