Manappuram Finance clocks 53.5% growth in Q4 net

Friday, May 26, 2017
The Hindu BusinessLine

 
Manappuram Finance posted 53.5 per cent growth in net profit in the fourth quarter of FY17 at Rs. 200.58 crore, against Rs. 130.70 crore in the corresponding quarter of the previous fiscal.

The net profit for the whole year more than doubled to Rs. 755.85 crore (an increase of 113.9 per cent) compared to Rs. 353.36 crore. The operating income for the year stood at Rs. 3,387.69 crore ( Rs. 2,360.23 crore).

The Board of Directors declared an interim dividend of Rs. 0.50 per share. The total dividend for the year accordingly would amount to Rs. 2 per share (face value of Rs. 2 a share). According to VP Nandakumar, MD & CEO, “The performance is encouraging, particularly because the second half of the year was a challenge, given the after-effects of demonetisation and the near-drought condition prevailing across southern India.” The company’s consolidated assets under management (AUM) registered 19.5 per cent growth at Rs. 13,657 crore, from Rs. 11,433 crore in the previous year. The aggregate gold loan disbursements went up to Rs. 52,460 crore from Rs. 36,084 crore.

As of March 31, the number of live gold loan customers stood at 21.46 lakh (19.32 lakh in FY16) while total gold holding went up to 61.1 tonnes from 59.61 tonnes. Diversification into new business areas continued to gain momentum with new businesses contributing 18.52 per cent to its consolidated AUM. Commercial vehicle loans and mortgage-based finance (housing loans and loans against property) contributed Rs. 653.37 crore to the total AUM. Its contribution in the preceding fiscal year was Rs. 294.14 crore.

Link:http://www.thehindubusinessline.com/todays-paper/tp-money-banking/manappuram-finance-clocks-535-growth-in-q4-net/article9713593.ece