Manappuram Finance's consolidated net profit tumbled 35.4% to Rs 282.08 crore on 4.5% decline in total income to Rs 1,502.73 crore in Q1 FY23 over Q1 FY22.
The NBFC's revenue declined after its flagship Gold loans business income dropped 10.21% to Rs 1,141.36 in Q1 FY23 from Rs 1271.18 crore reported in Q1 FY22. Meanwhile, revenues from Microfinance segment jumped 19.44% to Rs 361.37 crore in Q1 FY23 as compared to Rs 302.56 crore recorded in the same period last year.
Consolidated profit before tax stood at Rs 380.79 crore in the first quarter, down 35.1% from Rs 586.37 crore recorded in the corresponding quarter previous year.
The company's total expenses grew 13.63% to Rs 1,121.94 crore in Q1 FY23 over Q1 FY22. Finance costs rose 2.33% to Rs 504.60 crore in Q1 FY23 as against Rs 493.10 crore posted in Q1 FY22 while Impairment of financial instruments added 4.95% year on year to Rs 128.30 crore in the quarter ended June 2022.
The NBFC's board has declared an interim dividend of Rs 0.75 per equity share of face value Rs 2. The record date for the said dividend is fixed on Thursday, 18 August 2022.
Manappuram Finance is one of India's leading gold loan NBFCs.
Shares of Manappuram Finance jumped 6.89% to Rs 108.65 on the BSE.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app