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.
