THRISSUR:
Manappuram Finance Ltd. has reported a full year consolidated profit after tax (PAT) of Rs 1,724.95 crore, an increase of 16.53 percent over the previous year’s figure of Rs. 1,480.30 crore. Consolidated PAT for the fourth quarter ended March 31, 2021Vstood at Rs. 468.35 crore as compared to Rs. 398.20 crore recorded in the year-ago quarter.VThe Company’s operating income for the year stood at Rs. 6,330.55 crore, up by 15.83Vpercent over Rs. 5,465.32 crore recorded in the previous year. Profit before tax (PBT) for the fourth quarter was reported at Rs. 622.08 crore as against Rs. 534.07 crore for the year ago quarter. The PBT for the full year increased by 15.38 percent to Rs. 2,316.03 crore from Rs. 2,007.29 crore in the previous fiscal.
The Board of Directors met today to consider the results and approved payment of an interim dividend of Rs. 0.75 per share of the face value of Rs. 2.
Sharing the results with the media, V.P. Nandakumar, MD & CEO, said: “Our performance is particularly satisfactory given the multiple challenges faced throughout this pandemic affected year. Despite all the disruptions due to lockdowns, the consequent slowdown in economic activity and consumption, and volatility in gold prices, we have succeeded in posting our best ever full-year results, with significant growth in business and profitability.”
The Company’s consolidated Assets under Management (AUM) stood at Rs. 27,224.22 crore, up by 7.92 percent in comparison to Rs. 25,225.20 crore reported in the previous year. Growth was led by gold loans which grew by 12.44 percent to reach Rs. 19,077.05 crore. Aggregate gold loan disbursements during the year went up to Rs. 263,833.15 crore from Rs. 168,909.23 crore in the previous year. As of March 31, 2021, the number of live gold loan customers stood at 25.9 lakhs.
Besides gold loans, the company’s microfinance subsidiary, Asirvad Microfinance Ltd., also reported meaningful growth in business closing the year with an AUM of Rs 5,984.63 crore, an increase of 8.76 percent over Rs. 5,502.64 crore reported in the previous fiscal. The Vehicle and Equipment Finance division reported an AUM of Rs. 1,052.56 crore, a decline of 21.70 percent over the year being the fallout of the pandemic induced slowdown. The company’s home finance subsidiary contributed Rs. 666.27 Crore to the total AUM, against Rs. 629.61 crore in the previous year. Overall, the non-gold businesses contributed a share of 30 percent to the total portfolio.
The company’s consolidated net worth stood at Rs. 7,307.43 crore as of March 31, 2021. The book value per share stands at Rs. 86.34. Consolidated earnings per share (EPS) is reported at 20.40 while the capital adequacy ratio (standalone) was maintained at a high level of 28.88 percent. The net NPA position of the company stood at 1.53 percent, and gross NPA at 1.92 percent, as of March 31, 2021
