Manappuram Finance, a Kerala-based non-banking financial company, reported a consolidated net profit of Rs 573 crore in the December quarter of the current financial year. This represents a 46.31% year-on-year growth compared to Rs 393 crore in the corresponding quarter of the previous year. The company’s net interest income, the primary revenue source, stood at Rs 2,201 crore in the December FY24, recording a 33% growth. Revenue from gold loans and other segments rose 25% year-on-year to Rs 1618 crore in the December quarter, while revenue from the microfinance segment increased by 59% to Rs 708 crore. Manappuram Finance has been focusing on building its non-gold loans portfolio due to stiff competition for gold loans since the pandemic.
Manappuram Finance Reports Consolidated Net Profit of Rs 573 Crore in Q3 FY24
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