Today, the consolidated net profit of Manappuram Finance has tumbled 35.4 per cent to Rs 282.08 crore on 4.5 per cent, which declines in total income to Rs 1,502.73 crore in the Apr-Jun quarter of FY23 over the same period of FY22. The non-banking financial corporation (NBFC) has declined after its flagship Gold loan business income dipped by 10.21 per cent to Rs 1,141.36 in the Apr-Jun quarter of FY23 from Rs 1271.18 crore in the same period of last year. Moreover, revenues from the Microfinance segment jumped 19.44 per cent to Rs 361.37 crore in the first quarter of FY23 compared to Rs 302.56 crore in Q1FY22.
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Consolidated profit before tax stood at Rs 380.79 crore in the first quarter, down 35.1 per cent from Rs 586.37 crore recorded in the previous quarter. The total expenses of Manappuram Finance grow by 13.63 per cent to Rs 1,121.94 crore in Q1 FY23 over Q1 FY22. Finance costs rose 2.33 per cent to Rs 504.60 crore in Q1 FY23 as against Rs 493.10 crore posted in Q1 FY22, while Impairment of financial instruments added 4.95 per cent to Rs 128.30 crore.
The board of directors of NBFC has declared an interim dividend of Rs 0.75 per equity share of the face value of Rs 2, which will be declared on the record date of 18 August 2022. Manappuram Finance is India’s leading gold loan NBFCs company. Also, on BSE, the Manappuram Finance stock has jumped by 6.89 per cent to Rs 108.65.