Thrissur: Manappuram Finance Ltd. has declared its second quarter results. Consolidated net profit for the quarter ended September 30, 2018 was reported at Rs. 221.39 crore, a jump of 40 percent 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. Total consolidated operating income during the quarter stood at Rs. 1014.44 crore, an increase of 22.13 percent in comparison to Rs. 830.62 crore reported in the year ago quarter. Consolidated assets under management (AUM) grew by 25.27 percent to Rs.17,190.70 ¬¬¬¬¬¬¬¬crore, from Rs. 13,723.20 crore reported in the year ago quarter.
The Board of Directors, which met at Valapad today to consider the results, approved payment of interim dividend of Rs. 0.55 per share of face value of Rs. 2/- The company’s Gold loan Assets under Management (AUM) went up by 17.02 percent to Rs.12,592.80 crore, from Rs.10,760.91 crore in the year ago quarter. The gold loans business also added 3.65 lakh new customers while the aggregate gold loans disbursed during the quarter amounted to Rs. 18,337.01 crore. The number of live gold loan customers stood at 24 lakhs as of September 30, 2018. The company’s microfinance subsidiary, Asirvad Microfinance, ended the quarter with an AUM of Rs.2,728.94 crore, a growth of 38.91 percent over Rs.1,964.58 crore recorded in the year ago quarter. Its home loans subsidiary, Manappuram Home Finance Pvt. Limited, reported an AUM of Rs 447.79 crore (Rs. 326.58 crore) while its Commercial Vehicles division ended the quarter with an AUM of Rs. 817.23 crore (Rs. 419.09 crore). In aggregate, the company’s non-gold loan businesses have contributed 26.7percent of its total consolidated AUM.
Sharing the results with the media, Mr. V.P. Nandakumar, MD & CEO, 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.”In keeping with recent trends, average borrowing costs went up marginally by 11 bps during the quarter, to 8.88 percent. The company’s consolidated net worth stood at Rs 4,143.50 crore as of September 30, 2018. The book value per share stood at Rs. 49.16 and its capital adequacy ratio was at 25.97 percent. 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 September 30, 2018.