Chennai: Manappuram Finance Ltd declared its second quarter results and announced that the consolidated net profit for the quarter which ended 30 September was Rs 221.39 crore, a jump of 40 per cent over Rs 158.20 crore, recorded in Q2 of the previous fiscal.
Net profit for the quarter of the standalone entity (which excludes subsidiaries) is reported at Rs 192.75 crore.
A release from the firm stated that total consolidated operating income during the quarter stood at Rs 1,014.44 crore, an increase of 22.13 per cent. Consolidated assets under management (AUM) grew by 25.27 per cent to Rs 17,190.70 crore.
The company’s gold loan Assets under Management (AUM) went up by 17.02 per cent to Rs 12,592.80 crore. The company’s microfinance subsidiary, Asirvad Microfinance, ended the quarter with an AUM of Rs 2,728.94 crore, a growth of 38.91 per cent.
Its home loans subsidiary, Manappuram Home Finance Pvt Ltd, reported an AUM of Rs 447.79 crore while its commercial vehicles division ended the quarter with an AUM of Rs 817.23 crore.
MD and CEO of Manappuram Finance, V P Nandakumar, said, “Our performance during the quarter builds well upon the base established by our first quarter results and we remain on course to deliver good growth and profitability in the current year.”
The total borrowings of the company amounted to at Rs 14,035 crore while the total number of live customers stood at 24 lakhs as on 30 September.