Manapurram Finance reported Q2 earnings that were below estimates. Assets under management (AUM) growth has declined for the first time in 12 quarters. In an interview to CNBC-TV18, Kapil Krishan, CFO of Manappuram Finance spoke about FY18 loan targets and consolidation in the non-banking financial companies (NBFCs) sector.
Manapurram Finance reported Q2 earnings that were below estimates. Assets under management (AUM) growth has declined for the first time in 12 quarters.
In an interview to CNBC-TV18, Kapil Krishan, CFO of Manappuram Finance spoke about FY18 loan targets and consolidation in the non-banking financial companies (NBFCs) sector.
We are targeting 20 percent year-on-year (YoY) growth and we are on track for that, he said.
Demonetisation was an unexpected one-off event and despite that we expect that YoY, we will maintain our growth rates that we have projected on a consolidated basis, he added.
We are always on a lookout for inorganic opportunities. As and when the board sees the right fit, we are definitely open for inorganic acquisitions, said Krishnan.
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