Manappuram Finance announces Q1 FY25 Results

Manappuram Finance Ltd has reported a consolidated net profit of Rs. 556.5 crore for the first quarter of FY25, reflecting a 11.7% increase compared to Rs. 498 crore in Q1 FY24. The Non-Banking Financial Company's (NBFC) consolidated Assets Under Management (AUM) for Q1 reached Rs. 44,932 crore, marking a 21% increase year-on-year and a 6.8% rise quarter-on-quarter. The standalone net profit for the quarter, excluding subsidiaries, was Rs. 441 crore. Total consolidated operating income for the quarter was Rs. 2,488 crore, a 23% increase from the same quarter last year. The company's consolidated gold loan portfolio saw a 14.8% increase to Rs. 23,647 crore compared to the first quarter of FY24, with the number of live gold loan customers at 2.6 million as of June 30, 2024.

Sharing the results, Mr. V.P. Nandakumar, MD & CEO, stated, "We were able to achieve significant growth in Gold Loan AUM in this quarter, registering nearly 15% growth year-on-year and 10% sequentially. Our non-gold verticals are also growing, contributing notable gains in AUM and net profit."

Asirvad Microfinance Ltd concluded the quarter with an AUM of Rs. 12,310 crore, a 21% growth from Rs. 10,141 crore in the same period last year, and a net profit of Rs. 100 crore. Manappuram Home Finance Ltd., the home loans subsidiary, continues its steady growth with an AUM of Rs. 1,587 crore, up 32% year-on-year and 5.2% quarter-on-quarter. The Vehicles & Equipment Finance division's AUM reached Rs. 4,541 crore, showing a significant 63.4 % year-on-year increase.

The company's non-gold loan businesses now represent 47% of its consolidated AUM. The average borrowing cost for the standalone entity was 9% in Q1 FY24, compared to 8.3% in the year-ago quarter. Gross NPA stood at 1.96%, and Net NPA at 1.7%. As of June 30, 2024, the company's consolidated net worth was Rs. 12,021 crore, with a book value per share of Rs. 142. The standalone capital adequacy ratio was 29.6%. Consolidated total borrowings were Rs. 38,463 crore, and the total number of live customers reached 6.8 million.

Shares of Manappuram Finance Limited was last trading in BSE at Rs. 201.40 as compared to the previous close of Rs. 207.30. The total number of shares traded during the day was 581976 in over 8072 trades.

The stock hit an intraday high of Rs. 209.15 and intraday low of 198.80. The net turnover during the day was Rs. 117479607.00.

Source : Equity Bulls

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ManappuramFinance INE522D01027 Q1FY25 Q1FY2025 FY2025 ResultUpdate