Manappuram Finance, a player in the non-banking financial sector, on Wednesday, February 7, announced financial results for the third quarter of financial year 2023-24. The company reported 46.2% increase in net profit, reaching ₹575.3 crore compared to ₹393.5 crore in the same period last year.
Additionally, the net interest income for Q3 rose 33% to ₹1,452 crore as opposed to ₹1,092 crore in the corresponding period of the previous year.
Furthermore, in a significant move to reward shareholders, Manappuram Finance declared an interim dividend of ₹0.90 (ninety paise only) per equity share with a face value of ₹2.3.
The record date for determining the entitlement of the interim dividend has been set for February 19, 2024.
Shareholders as of this date will be eligible to receive the dividend. The company aims to disburse the dividend or dispatch dividend warrants on or before March 7, 2024, it said.
Last year, the Kerala-based non-banking finance company (NBFC) said that it is aiming for consolidated loan growth of about 20% with 7-8% growth in gold loans for the financial year 2023-24 (FY24).
The shares of Manappuram Finance on Wednesday, February 7, closed 1.93% higher at ₹190.20 apiece on the BSE.
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