Manappuram Finance Ltd shows resilience and growth in Q3 FY24

Manappuram Finance Ltd., a prominent player in the financial sector, has recently disclosed its financial results for the quarter ended December 31, 2023. The company has exhibited resilience and achieved significant growth amidst a challenging financial landscape, reflecting its strong operational capabilities and strategic initiatives.

Financial Highlights:

Quarterly Performance (Q3 FY24):

Sales: Manappuram Finance Ltd. reported sales of ₹2,305 crores for Q3 FY24, marking a notable increase compared to the previous quarter's ₹2,157 crores.

EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization stood at ₹1,576 crores, showcasing the company's operational efficiency and robust financial performance.

PAT: Profit After Tax reached ₹575 crores, indicating Manappuram Finance Ltd.'s ability to maintain profitability amidst market challenges.

Quarterly Comparison (Q3 FY24 vs. Q2 FY24 and Q3 FY23):

While sales experienced a significant uptick from Q2 FY24 to Q3 FY24, the company showcased substantial growth compared to Q3 FY23, demonstrating its resilience and adaptability in the face of industry fluctuations.

EBITDA and PAT witnessed remarkable growth compared to the previous quarters, reflecting Manappuram Finance Ltd.'s strong financial performance and prudent financial management.

9-Month Performance (9M FY24 vs. 9M FY23):

Manappuram Finance Ltd. reported cumulative sales of ₹6,488 crores for the nine months ended December 31, 2023, showcasing robust growth compared to the same period last year.

EBITDA for 9M FY24 stood at ₹4,412 crores, reflecting the company's solid operational capabilities and efficiency.

Profit After Tax witnessed substantial growth, indicating Manappuram Finance Ltd.'s successful execution of strategic initiatives and operational excellence.

Manappuram Finance Ltd.'s performance in Q3 FY24 reflects its resilience and ability to navigate through market uncertainties. Despite facing challenges such as regulatory changes and evolving customer preferences, the company has maintained a strong growth trajectory, driven by its diversified product portfolio and strategic market positioning.

The financial sector's recovery post-pandemic and increasing demand for financial services present growth opportunities for Manappuram Finance Ltd. The company's focus on innovation, customer-centric solutions, and operational excellence positions it well to capitalize on emerging market trends and further strengthen its market leadership.

Shares of Manappuram Finance Limited was last trading in BSE at Rs. 186.60 as compared to the previous close of Rs. 181.25. The total number of shares traded during the day was 482885 in over 5523 trades.

The stock hit an intraday high of Rs. 188.30 and intraday low of 182.05. The net turnover during the day was Rs. 89818261.00.

Source : Equity Bulls

Keywords

ManappuramFinance INE522D01027 Q3FY24 9MFY24 ResultUpdate