Manappuram Fin shines

Manappuram Finance reported a consolidated net profit of Rs.282 crore for Q1FY23, an 8% (QoQ) increase though a 35% drop on YoY.

AUM for the quarter stood at Rs.30,760 crore, an increase of 24.25%.

The company’s standalone gold loan portfolio posted an increase of 21% at Rs.20,050 crore and the aggregate gold loans disbursed during the quarter amounted to 27,751.46 crore, while the number of live gold loan customers stood at 2.4 million as on June 30.

The company’s non-gold loan businesses now account for 34% share of its consolidated AUM. Gross NPA stood at 1.43% and net NPA was reported at 1.25%.

Meanwhile, revenues from Microfinance segment jumped 19.44% to Rs 361 crore.

The stock price has reacted positively to the earnings as the belief is that the worst is over. It rose over 9% to a intraday high at Rs.110.90, very close to its 10% UC of the day at Rs.111.80.