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Manappuram Finance reported their quarterly financial results for the June-end quarter of the fiscal year 2018-19 with a net profit of Rs. 199.99 crores, rising 20.9% in comparison to Rs. 165.39 crores earned during the April-June quarter of the financial year 2017-18.
The company’s total income for the quarter under review stood at Rs. 947.18 crores as against Rs. 856.30 crores in the corresponding quarter a year ago, resulting in a 9.5% increment between the two accounting periods.
The consolidated asset under management (AUM) rose by 24% to Rs. 16,617 crores against Rs. 13,379 crores in the last year same quarter period. The company’s gold loan AUM grew up by 16% to Rs. 12,463 crores from Rs. 10,727 crores.
The number of customers added during the June-end quarter by the gold loan business has amounted to 3.42 lakhs making the total number of active customer for the company to 23.2 lakhs.
The company’s CEO and MD said in a statement that, “our performance during the quarter is quite credible and gives us a good base on which to aim at more ambitious targets for growth and profitability in the current year.” The company also said it has also been given approval by the board to raise up to Rs. 3000 crore through public issue of non-convertible debentures in multiple tranches in the current financial year.
