Friday, Jun 14 2024 | Time 04:13 Hrs(IST)
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Business Economy


New Delhi, May 24 (UNI) Non-banking finance company (NBFC) Manappuram Finance Limited on Friday reported a consolidated net profit of Rs 564 crore for the fourth quarter ended March 31, 2024, marking a growth of 35.7 percent compared to Rs 415 crore reported in the same quarter of the previous year.
The full-year Profit After Tax (PAT) stands at Rs 2,198 crore, reflecting a 47 percent increase year-on-year basis, the company said in a release.
The company's consolidated Assets under Management (AUM) grew by 18.7 percent to Rs 42,070 crore from Rs 35,428 crore in the previous fiscal year. Operating income for the year reached Rs 8,848 crore, up by 32 percent from Rs 6,697 crore recorded in the previous fiscal.
The Board of Directors approved an interim dividend of Rs.1 per share of face value Rs 2.
Mr. V.P. Nandakumar, MD & CEO, 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."
Gold loans AUM grew by 8.9 percent to Rs 21,500 crore over the previous year and increased by 3.6 percent compared to the previous quarter. As of March 31, 2024, the number of live gold loan customers stood at 2.5 million.
Asirvad Microfinance Ltd., the company's microfinance subsidiary, reported an AUM of Rs 11,881 crore, up by 18 percent from the previous fiscal year. The Vehicle and Equipment Finance division closed the year with an AUM of Rs 4,111 crore, showing a 69 per cent year-on-year growth.
Manappuram Home Finance Ltd., the company's home finance subsidiary, achieved an AUM of Rs 1,510 crore, a growth of 38 percent over the previous fiscal year. Overall, non-gold businesses contributed 49 percent to the company's loan book.
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