Comments
Manappuram Finance Ltd has posted an 18 per cent growth in its consolidated profit after tax in Q4 of FY21 at ₹468.35 crore against ₹398.20 crore in the year-ago quarter. As a result, the consolidated PAT for the full year was ₹1,724.95 crore, an increase of 16.53 per cent over the previous year’s figure of ₹1,480.30 crore.
The operating income for the year stood at ₹6,330.55 crore, up by 15.83 per cent over ₹5,465.32 crore. The Board of Directors approved payment of an interim dividend of ₹0.75 per share of the face value of ₹2.
V.P. Nandakumar, MD & CEO, said: “Our performance is particularly satisfactory given the multiple challenges faced throughout this pandemic affected year. Despite all the disruptions due to lockdowns, the consequent slowdown in economic activity and consumption, and volatility in gold prices, we have succeeded in posting our best ever full-year results, with significant growth in business and profitability.”
The consolidated Assets under Management (AUM) stood at ₹27,224.22 crore, up by 7.92 per cent compared to ₹25,225.20 crore. Growth was led by gold loans, which grew by 12.44 per cent to reach ₹19,077.05 crore. During the year, aggregate gold loan disbursements went up to ₹263,833.15 crore from ₹168,909.23 crore in the previous year. As of March 31, the number of live gold loan customers stood at 25.9 lakh.
Besides gold loans, the company’s microfinance subsidiary, Asirvad Microfinance Ltd, also reported meaningful growth in business closing the year with an AUM of ₹5,984.63 crore, an increase of 8.76 per cent over ₹5,502.64 crore reported in the previous fiscal. On the other hand, the Vehicle and Equipment Finance division reported an AUM of ₹1,052.56 crore, a decline of 21.70 per cent over the year being the fallout of the pandemic induced slowdown. The home finance subsidiary contributed ₹666.27 crore to the total AUM, against ₹629.61 crore in the previous year. Overall, the non-gold businesses contributed a share of 30 per cent to the total portfolio.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.