Manappuram Finance Ltd, the Kerala-based gold loan non-banking financial company, reported a net profit of Rs 591.5 crore for FY12, compared to Rs 282.7 crore in the previous year, registering a growth of 109 per cent.
The increase in profit was driven by growth in assets under management (AUM), which stood at Rs 11,630 crore, a 54 per cent increase over the previous year’s level of Rs 7,549 crore. Total gold loan disbursements amounted to Rs 31,698 crore, compared to Rs 18,057 crore in the previous year.
Operating income was at Rs 2,615.6 crore, compared to Rs 1,165.4 crore in 2010-11, recording a growth of 124 per cent.
The board of directors proposed a final dividend of Rs 1 per share of face value of Rs 2. This is in addition to the interim dividend of Rs 0.50 per share declared in February.
The company has also made a change in top line by appointing Jagdish Capoor, former chairman of
HDFC Bank, as non-executive chairman.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app