Manappuram Finance Q2 net surges 40%

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Kochi | Published: November 7, 2018 12:19:47 AM

Manappuram Finance on Tuesday reported a 40% year-on-year hike in standalone net profit for the September quarter to Rs 221.39 crore. Net profits during the same quarter of FY18 stood at Rs 158.20 cr.

Manappuram Fin Q2 net surges 40%

Manappuram Finance on Tuesday reported a 40% year-on-year hike in standalone net profit for the September quarter to Rs 221.39 crore. Net profits during the same quarter of FY18 stood at Rs 158.20 cr.

The Kerala-based lender, which also has a microfinance, broking and home loan company in the group, said that in keeping with recent trends, average borrowing costs went up by 11 bps during the quarter to 8.88%. Total consolidated operating income during the quarter stood at Rs 1,014.44 crore, an increase of 22.13% in comparison to Rs 830.62 crore reported in the year-ago quarter. Consolidated assets under management (AUM) grew 25.27 % to Rs 17,190.70 crore from Rs 13,723.20 crore reported in the year-ago quarter. Gold loan assets under management went up by 17.02% to `12,592.80 crore from `10,760.91 crore in the year-ago quarter.

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