Manappuram Finance Q4 net profit rises 115%

Manappuram Finance on Thursday reported a  115 per cent jump in net profit to Rs 69.68 crore in the quarter ended March 31.

The gold loan non-banking financial company’s net profit stood at Rs 32.37 in the same period a year earlier.

Total income increased from Rs 457.43 crore for the quarter ended March 31, 2014 to Rs 500.84 crore in the corresponding period, the company stated.

Net profit for the year ended March 31 went up to Rs 271.31 crore, up 20 per cent as compared to Rs 225.98 crore reported in FY14.

Operating income for the year stood at Rs 1,986.42 crore, down 5.4 per cent from Rs 2,100.46 crore recorded in the previous fiscal.

Profit before tax (PBT) was up by 20.6 per cent to Rs 413.67 crore from Rs 343.03 crore in the previous year.

Provision towards income tax stood at Rs 142.19 crore (Rs 117.04 crore), it said.

As per the consolidated results, the Group has posted a net profit of Rs 271.31 crore for the year ended March 31 as compared to Rs 225.98 crore in FY14.

Total income dropped from Rs 2,111.82 crore in the year ended March 31, 2014 to Rs 1,993.42 crore for the year ended March 31, 2015.

"After two years of decline in business levels, we have registered all-round performance. Profitability has improved and once again there is brisk growth in the loan book," Manappuram Finance MD & CEO VP Nandakumar said.

Total gold loan disbursements during the year went up to Rs 24,683 crore from Rs 20,292 crore in the previous year.

Likewise, the company's consolidated Assets under Management (AUM) also registered growth, going up to Rs 9,593 crore from Rs 8,163 crore recorded in the previous fiscal.

In fact, growth in AUM was consistent across the four quarters, reflecting the depth of the revival in the market, it said.

Interest cost continued the downward trend and further declined by 24 bps in Q4. For the full year, interest cost come down by Rs 149.08 crore.

As of March 31, 2015, the number of live customers stood at 17.47 lakhs (15.08 lakhs in FY-2014) while total gold holding increased to 53.13 tonnes (45.57 tonnes).

The company's consolidated net worth stood at Rs 2,633 crore as on March 31, 2015. The book value per share is at Rs 31.30. The net NPA position of the company stood at 1 per cent as on March 31, 2015, the statement said.

The company has also made significant headway with its other new business like mortgage based loans (affordable housing loans and loans against property) and vehicle finance, it added.