Manappuram Finance, the country's largest gold loan company, today posted a hefty 117% jump in net profit to Rs 161.37 crore for the third quarter ended December, on the back of nearly doubling up of disbursals.
The Kerala-based company's post tax profit for the same quarter last year was Rs 74.53 crore.
During the reporting quarter, there was a 86% rise in gold loans disbursed to Rs 10,371.80 crore which resulted in a 90% jump in assets under management which stood at Rs 12,358.21 during the reporting period, it said in a statement.
The company's net non-performing assets ratio rose to 0.20% from the 0.17% it had observed in the year-ago period, it said.
During the quarter, it opened 235 branches to take its network to 2,738 across 20 states and four union territories, the company said, adding that 1.41 lakh customers were added during the quarter.
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