Manappuram Finance gains after Q4 PAT jumps 44% to 395 cr

Manappuram Finance jumped 5.77% to Rs 130.10 after net profit rose 43.68% to Rs 394.97 crore on 38.72% increase in total income to Rs 1,618.15 crore in Q4 March 2020 over Q4 March 2019.

Profit before tax stood at Rs 534.07 crore in Q4 March 2020, up by 30.4% from Rs 409.41 crore in Q4 March 2019. Net interest income rose 33.3% to 1024.52 crore during the period under review.

The company said it has offered its customers the option to opt for three-month moratorium as per RBI's directions.

Manappuram added that the extent to which the COVID-19 pandemic will impacts its business will depend on developments and the company will continue to monitor any material changes to future economic conditions.

Manappuram's net profit jumped 56.07% to Rs 1,467.75 crore on 30.9% increase in total income to Rs 5,551.19 crore in the year ended March 2020 (FY20) over the year ended March 2019 (FY19). PBT stood at Rs 2,007.30 crore in FY20, up by 37.8% from Rs 1,456.59 crore FY19.

The company's consolidated assets under management (AUM) rose 29.8% to Rs 25,225 crore in FY20 from Rs 19,438 crore in FY19.

Manappuram Finance said its board has approved increasing the overall borrowing limit to Rs 30,000 crore from Rs 25,000 crore, subject to shareholders' approval in the ensuing Annual General Meeting.

It also reappointed Madhu Mohan, General Manager as the Chief Risk Officer (CRO) of the company for a period of one year, with effect from 17 July 2020.

Manappuram Finance is a gold loans offering non-banking financial company, engaged in providing finance against used household gold ornaments.

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