Manappuram Fin Q3 profit falls 46% to Rs 261 crore : Rashtra News
#Manappuram #Fin #profit #falls #crore
The NBFC had reported a consolidated net profit of Rs 483.19 crore in Q3 of FY21 and Rs 369.88 crore in the preceding second quarter.
Manappuram Finance on Monday reported a 46% decline in its consolidated net profit to Rs 261 crore for the quarter ended December 2021 as income fell.
The NBFC had reported a consolidated net profit of Rs 483.19 crore in Q3 of FY21 and Rs 369.88 crore in the preceding second quarter. Consolidated income reported a decline of 9.69% y-o-y to Rs 1,484.45 crore.
However, the company’s consolidated assets under management (AUM) grew by 10% to Rs 30,407.13 crore from Rs 27,642.48 crore a year ago, and by 6.99% in comparison to Rs 28,421.63 crore reported in the preceding quarter (Q2).
The Kerala-based lender, which also operates a home loan, microfinance and commercial vehicle leasing subsidiary, reported a standalone net profit of Rs 259.06 crore against Rs 465.29 crore a year ago.
Sharing the results with the media V P Nandakumar, MD & CEO, said, “Q3 was marked by disruptions due to the surge in the omicron variant. However, we achieved good growth in business volumes from our core business of gold loans as also in vehicle finance and home loans.”
Standalone gold loan portfolio was flat at Rs 20,270.74 crore.
However, the same represents a growth of 8.29% in comparison to Rs 18,719.53 crore in the preceding quarter. The number of live gold loan customers stood at 24.9 lakh, a decline of 4.97% over the year-ago level.
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( News Source :Except for the headline, this story has not been edited by Rashtra News staff and is published from a www.financialexpress.com feed.)
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