Manappuram Finance Q2 net profit falls 6 pc at Rs 405 cr

The non-banking finance company had posted a net profit of Rs 432.98 crore in the same quarter a year ago. Total income of the company rose to Rs 1,577.91 crore in the July-September period of 2020-21 from Rs 1,390.13 crore in the same period of 2019-20, it said in a regulatory filing.

Manappuram Finance on Friday reported a decline of 6.4 per cent in net profit at Rs 405.44 crore in the second quarter ended September. The non-banking finance company had posted a net profit of Rs 432.98 crore in the same quarter a year ago.

Total income of the company rose to Rs 1,577.91 crore in the July-September period of 2020-21 from Rs 1,390.13 crore in the same period of 2019-20, it said in a regulatory filing. Revenues from gold loan and other sources grew by 20 per cent to Rs 1,321.10 crore in the second quarter of fiscal 2021. However, revenue from microfinance activities fell by 11.1 per cent to Rs 256.81 crore.

Total expenses of the company grew to Rs 1,033.50 crore in the quarter under consideration from Rs 841.83 crore in the year-ago period. The company said it has declared an interim dividend of 60 paise per equity share of the face value of Rs 2.