Manappuram Finance Ltd has posted a 19 per cent increase in Q1 net profit of FY19 at ₹198.77 crore over ₹167.43 crore recorded in the previous fiscal. The net profit for the quarter of the standalone entity (which excludes subsidiaries) is reported at ₹171.61 crore.
The total consolidated operating income stood at ₹935.82 crore (₹831.38 crore), an increase of 12.56 per cent. The consolidated assets under management (AUM) grew by 24.20 per cent to ₹16,617.78 crore (₹13,379.84 crore). The board of directors has approved payment of interim dividend of ₹0.55 per share of face value of ₹2.
The company’s gold loan AUM went up by 16.19 per cent to ₹12,463.60 crore (₹10,727.31 crore). The gold loans business added 3.42 lakh new customers while the aggregate gold loans disbursed during the quarter amounted to ₹23,119 crore. The number of active gold loan customers stood at 23.2 lakh as of June 30.
The microfinance subsidiary, Asirvad Micro Finance, ended the quarter with an AUM of ₹2,437.94 crore (₹1,827.12 crore). Its home loans subsidiary, Manappuram Home Finance reported an AUM of ₹406.51 crore (₹319.63 crore) while its commercial vehicles division ended the quarter with an AUM of ₹717.73 crore (₹343.74 crore). In aggregate, the company’s non-gold loan businesses have contributed 25 per cent of its total consolidated AUM.
VP Nandakumar, MD & CEO, said, “Our performance during the quarter is quite creditable and gives us a good base on which to aim at more ambitious targets for growth and profitability in the current year.”