Manappuram Finance declines after weak Q2 numbers

Manappuram Finance lost 4.39% to Rs 94.80 at 15:07 IST on BSE after consolidated net profit fell 16.64% to Rs 160.37 crore on 1.07% decline in total revenue to Rs 839.80 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours yesterday, 7 November 2017.

Meanwhile, the S&P BSE Sensex was down 212.95 points or 0.64% at 33,157.81.

On the BSE, 31.94 lakh shares were traded on the counter so far as against average daily volumes of 6.54 lakh shares in the past two weeks. The stock had hit a high of Rs 96.80 and a low of Rs 92.30 so far during the day.

 

Manappuram Finance's board at its meeting held yesterday, 7 November 2017, approved equity infusion up to Rs 50 crore in its subsidiary Asirvad Microfinance to facilitate its business growth.

Manappuram Finance is one of India's leading gold loan non-banking financial companies (NBFCs).

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