Manappuram Finance Ltd (NSE: MANAPPURAM) posted its second-quarter 2022 earnings results.
The company had a consolidated net profit of ₹1554 crores which reduced 1% year on year.
Manappuram Finance had a net profit of ₹376 cores or ₹4.37 per share or ₹418 crores or ₹4.79 per share in the same quarter of the previous year.
Income from operations was down by 2.15% ₹1,531.92 crores in Q2FY22, as against ₹1,565.58 crores in Q2FY21. The board of directors of the company at its meeting approved payment of an interim dividend of ₹0.75 per share.
“The key takeaway is the robust growth recorded during the quarter in our business volumes, be it gold loans, microfinance, or our home and vehicle loans portfolio. It reflects the emerging recovery in the rural and unorganized sectors of the economy and going forward we expect to sustain the growth along with improved profitability,” V P Nandakumar, MD & CEO, Manappuram Finance said.
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