Manappuram Q3 net rises 13% at Rs 80 cr

The company recorded a 3.4% increase in its Assets under Management (AUM) at Rs 8,823 cr

Manappuram Finance Limited (MFL) has reported a 13.5 per cent rise in net profit at Rs 80.64 crore for third quarter of the current financial year, as against a net of Rs 71.06 crore for the corresponding period a year ago.

Operating income for the quarter under review increased to Rs 515.73 crore as against Rs 534.87 crore during the same period of previous fiscal.

The increase in profit  follows continuing growth in business volumes, the company said.

MFL recorded a 3.4 per cent  increase in its gold loan assets under management (AUM) during the quarter to Rs 8,823 crore, when compared with Rs 8,530 crore reported in previous quarter of the current fiscal.

Aggregate gold loans disbursed during the quarter amounted to Rs 5,932 crore.  

The board of directors of the company who met today had approved payment of interim dividend of Rs 0.45 for each share of face value Rs 2.

MFL added 243,000 new customers during the quarter, taking the total customers to 1.6 million, while its networth stood at Rs 2,603.1 crore as of Dec 31, 2014.