Manappuram Finance Reports 35.7% Growth in Q4 Profit

Manappuram Finance Limited reported a consolidated profit after tax (PAT) of Rs 564 crore for the fourth quarter ended March 31, 2024, marking a growth of 35.7 percent compared to Rs 415 crore reported in the same quarter of the previous year. The full-year PAT stands at Rs 2,198 crore, reflecting a 47 percent increase year-on-year.

 

The company's consolidated Assets under Management (AUM) grew by 18.7 percent to Rs 42,070 crore from Rs 35,428 crore in the previous fiscal year. Operating income for the year reached Rs 8,848 crore, up by 32 per cent from Rs 6,697 crore recorded in the previous fiscal.

 

The Board of Directors approved an interim dividend of Rs.1 per share of face value Rs 2. Mr. V.P. Nandakumar, MD & CEO, said: "We are delighted to announce impressive growth in net profit for the full year. Our performance in non-gold segments such as microfinance, commercial vehicles and home loans is exceptionally encouraging. In our core business of gold loans too, we've achieved commendable increase over the previous fiscal, and I have no doubt that we will not only maintain the rate of growth but also improve upon it in the coming year."

 

Gold loans AUM grew by 8.9 % to Rs 21,500 crore over the previous year and increased by 3.6% compared to the previous quarter. As of March 31, 2024, the number of live gold loan customers stood at 2.5 million.

 

Asirvad Microfinance Ltd., the company's microfinance subsidiary, reported an AUM of Rs 11,881 crore, up by 18 percent from the previous fiscal year. The Vehicle and Equipment Finance division closed the year with an AUM of Rs 4,111 crore, showing a 69% year-on-year growth.

 

Manappuram Home Finance Ltd., the company's home finance subsidiary, achieved an AUM of Rs 1,510 crore, a growth of 38 per cent over the previous fiscal year. Overall, non-gold businesses contributed 49 per cent to the company's loan book.

 

The company's consolidated net worth stood at Rs 11,548 crore as of March 31, 2024, with a book value per share of Rs 136.4. Consolidated earnings per share (EPS) for the year stood at Rs 26, and the capital adequacy ratio (standalone) was maintained at 30.6 per cent. The net NPA position of the standalone entity stood at 1.70 per cent, with gross NPA at 1.93 per cent. On a consolidated basis, the company's total borrowings stood at Rs 33,654 crore, with a total of 6.8 million live customers as of March 31, 2024.