Manappuram Finance net profit rises 63% in Q3

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Published: January 29, 2020 2:23:39 AM

The gold loan business also added 3.25 lakh new customers and disbursed loans worth Rs 40,304.26 crore.

Consolidated AUM grew 35.52% to Rs 4,099.95 crore, from Rs 17,783.10 crore a year ago.

NBFC Manappuram Finance on Tuesday reported a 63% y-o-y rise in net profit at Rs 397.84 crore in Q3FY20 against a net profit of Rs 244.11 crore a year ago. Net profit of the standalone entity is at Rs 332.42 crore against Rs 210.82 crore a year ago. Manappuram group recorded a consolidated net profit of Rs 1,000 crore so far this fiscal.
Gold loan AUM rose 29.69% to Rs 16,242.95 crore, from Rs 12,524.91 crore a year ago. The gold loan business also added 3.25 lakh new customers and disbursed loans worth Rs 40,304.26 crore. The number of live gold loan customers stood at 26.4 lakh.

Gold pledged at Q3 end was at 73.52 tonne against 66.32 tonne. In aggregate, the non-gold loan business contributed 33% to its total consolidated AUM. Consolidated operating income stood at Rs 1,399.02 crore against Rs 1,081.20 crore a year ago. Consolidated AUM grew 35.52% to Rs 4,099.95 crore, from Rs 17,783.10 crore a year ago.

VP Nandakumar, MD & CEO, said, “Our performance…is in line with our guidance. All our arms and business verticals have made worthwhile contributions to the overall performance. We now look forward to a strong finish in Q4.”

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