Manappuram Finance Q1 net profit rises 36% to Rs 272 cr

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Manappuram Finance on August 13 reported a 36 per cent rise in its profit after tax (PAT) to Rs 272.23 crore on a consolidated basis during the first quarter ended June 30.

The company had posted a net profit of Rs 199.99 crore during the April-June period of the previous fiscal.

Income (consolidated) rose to Rs 1,184.70 crore in the three months to June of 2019-20, as against Rs 947.18 crore in the same period last year, Manappuram Finance said in a regulatory filing.

The board of directors declared an interim dividend of Rs 0.55 per equity share having face value of Rs 2 each, it said.

The consolidated earnings include results of Manappuram Home Finance, Asirvad Microfinance, Manappuram Insurance Brokers and Manappuram Comptech and Consultants.

Primarily engaged in gold loan financing, the company in the recent past has ventured into microfinance, vehicle and housing loans as well as SME lending.

Shares of Manappuram Finance closed over 6 per cent down at Rs 116.30 apiece on the BSE.

[“source=moneycontrol”]