Manappuram Finance Q3 Results: Net profit falls 46% to Rs 261 crore

New Delhi: Manappuram Finance on Monday reported nearly 46 per cent decline in consolidated net profit at Rs 261 crore in the quarter ended December 2021 as income fell. The non-banking finance company (NBFC) had posted a net profit of Rs 483 crore in the corresponding quarter a year ago.

Total income during the October-December period of 2021-22 was down at Rs 1,506.85 crore, as against Rs 1,650 crore in same period of 2020-21, Manappuram Finance said in a regulatory filing.

Total expenses during Q3FY22 rose to Rs 1,158.67 crore, as against Rs 992.75 crore in year-ago period.

The board of directors of the company in its meeting also declared an interim dividend of Rs 0.75 per equity share having a face value of Rs 2 each, the company said.

The consolidated results of the group include unaudited financial results of subsidiaries - Asirvad Microfinance, Manappuram Home Finance, Manappuram Insurance Brokers and Manappuram Comptech and Consultants.

Stock of the company closed at Rs 142.80 apiece on BSE, down 6.70 per cent over previous close.