Manappuram Finance consolidated June quarter PAT jumps 341.40% to ₹585cr
Manappuram Finance just posted a massive 341.40% jump in consolidated net profit after tax for the June quarter, hitting ₹585 crore (up from ₹132 crore last year).
The big boost came mostly from operational efficiency, cost reduction, digitalisation and expansion into newer markets, with gold loan AUM reaching ₹57,006 crore.
Overall, the company's total assets under management grew 57.20% to ₹69,635 crore.
Manappuram non-gold loans 18.14% of portfolio
Non-gold loan businesses now make up 18.14% of Manappuram's portfolio. Asirvad Microfinance (its subsidiary) brought in a ₹21 crore profit this quarter.
Income from operations rose 34.1% to ₹3,033 crore. According to Chairman and Managing Director VP Nandakumar, smart cost control and digital upgrades helped it grow even with gold price swings affecting the market.