Manappuram Finance extends decline, dips 11% post June quarter earnings

The gold loan book declined 13 per cent QoQ to Rs 16,500 crore and gold holdings 11 per cent QoQ to 58.1 tonnage

Shares of Manappuram Finance slipped 11 per cent at Rs 170.45 on the BSE in the intra-day trade on Wednesday after the company reported consolidated profit after tax (PAT) at Rs 436.90 crore, up 18.7 per cent year on year (YoY), but down 8 per cent quarter on quarter (QoQ) for the quarter ended June 2021 (Q1FY22).

The company missed Street expectations due to lower net interest income (NII). In Q1FY22, NII was up 13.3 per cent YoY, and down 2.3 per cent QoQ. Meanwhile, provisions were elevated at Rs 120 crore.

The gold loan book declined 13