Non-banking finance company (NBFC) Manappuram Finance on Monday reported a 37% year-on-year (YoY) increase in consolidated net profit at ₹560.65 crore for the quarter ended September 30, 2023. The NBFC, which is mainly into gold loans, had posted a net profit of ₹409 crore in the year-ago quarter. Sequentially, profit grew by 12.5% from the previous June quarter.
The company has also declared an interim dividend of ₹0.85 per equity share of face value ₹2. The record date for the same has been fixed as November 24, 2023, and the dividend will be paid on or before December 12, 2023.
The company's net interest income or NII, the difference between interest earned and interest expended, stood at ₹1,468 crore, compared to ₹1,168 crore in the corresponding quarter of last fiscal.
Both bottomline and NII were higher as against CNBC-TV18's poll of ₹516.8 crore and ₹1,364.7 crore, respectively.
Following the earnings announcement, shares of Manappuram Finance Ltd jumped 4.66% to settle at ₹144.80. The scrip has gained 31.46% in the last six months.
First Published: Nov 13, 2023 3:50 PM IST
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