Monday, February 19, 2018

unnamed (3)Manappuram Finance Ltd., the Kerala based NBFC, released its third quarter results today.Consolidated net profit for the quarter ending on December 31, 2017 stood at Rs.173.34 crore, an increase of 8.09 percent over Rs. 160.37 crore recorded in the preceding second quarter.Consolidated net profit was reported at Rs.202.54 crore in the year ago quarter.

Total consolidated operating income stood at Rs. 872.78crore as against Rs.Rs.830.03 in Q2.The company’s consolidated Assets under Management (AUM) was reported at Rs.14,650crore, an increase of 6.76percent compared to Rs. 13,723 crore reported in the preceding quarter. Consolidated AUM was at Rs. 14,555 crore in the year ago quarter.

The Board of Directors, which met at Valapad (Thrissur) today to consider the results, approved payment of interim dividend of Rs. 0.50 per share of face value of Rs. 2/-.Sharing the results with the media, Mr. V.P. Nandakumar, MD & CEO, said, “With much improved performance this quarter, we have now put the fallout from demonetization behind us. From now on, it will be business as usual, and we expect growth to pick up to the levels we saw before demonetization.”

During the quarter, the company’s gold loan AUM grew by 5.26 percent to Rs. 11,327crore, as against Rs.10,761crore recorded in the preceding quarter. Gold loan AUM stood at Rs. 12,267 crore in the year ago quarter. The total number of live gold loan customers stood at 22.19 lakhs as on December 31, 2017.

Significantly, the company’s average borrowing cost continued to decline, coming down by a further 26 basis points during the quarter to 8.56 percent. Borrowing cost for the company has come down significantly, by 130basis pointsin the last one year, and 207basis pointsover the last two years. The total borrowings of the company (consolidated) stood at Rs.11,510 crore. Net NPAs have been further brought down to 0.42 percent from 0.89 percent in Q2.

The company’s consolidated net worth stood at Rs. 3,698.91crore as of December 31, 2017. The bookvalue per share is Rs. 43.82. The capital adequacy ratio for the standalone entity stood at 27.88percent