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Thursday 7 February 2019

MANAPPURAM’SQ3NET PROFITJUMPS 42 PERCENT


MANAPPURAM’SQ3NET PROFITJUMPS 42 PERCENT TO RS. 244.11CRORE.

Manappuram Finance Ltd. has declared its third quarter results with all-round growth in business and profitability. Consolidated net profit for the third quarter ending on December 31, 2018 was reported at Rs. 244.11crore, a sharp increase of 42percent over Rs. 171.73crore recorded in Q3 of the previous fiscal. Net quarterly profit of the standalone entity (which excludes subsidiaries) grew by 24.4 percentto Rs.210.83crore.

Total consolidated operating income during the quarter stood at Rs.1081.20 crore, an increaseof 24 percentcompared to Rs. 872.00crore reported in the year ago quarter. Consolidated assets under management (AUM) grew by 21.4percent to Rs.17,783.06­­­­­­­­crore,against Rs. 14,650.16crorereported in the year ago quarter.

The Board of Directors, which met at Valapad today to consider the results, approved payment of interim dividend of Rs. 0.55per share of face value of Rs. 2/-

Sharing the results with the media, Mr. V.P.Nandakumar, MD & CEO, said, “Our performance during the quarter is noteworthy not only because of the substantial growth in business volumes and profitability, but also because all our new businesses have now contributed to the profits. Having begun its diversification in 2014, the company is well set to reap the rewards from here on.”

The company’s microfinance subsidiary, AsirvadMicrofinance, registered impressive growth ending the quarter with an AUM of Rs.3195.16 crore, an increase of 51.3percentcompared to Rs.2728.94 crore in the year ago quarter. Asirvad also reported a net profit of Rs 33.24 crorecompared to Rs 2.90 crore reported in Q3 of FY19. With 16.66 lakh customers, 928 branches, and 4,872 employees, Asirvad Microfinance has a presncce in 22 States and UTs and the 6th largest NBFC- MFI in India.

The company’s home loans subsidiary, Manappuram Home Finance ,reported an AUM of Rs478.00crore, a growth of 39.7percent over Rs. 342.22 crore recorded in Q3 of previous year. The Commercial Vehicles divisionreported rapid growth and ended the quarter nearly doubling its AUM to Rs. 975.54crore (Rs.499.81crore). In aggregate, the company’s non-gold loan businesses have contributed29.6percent of its total consolidated AUM. 

The company’s Gold loan AUM went up by 10.57percent to Rs.12,524.91crore, from Rs.11,327.08crore in the year ago quarter. Gold holdings have increased to 66.3 tonnes from 62.34 tonnes last year, a growth of 6.4percent. The number of live gold loan customers stood at 23.80 lakhs as of December 31, 2018.
In keeping with recent trends, average borrowing cost went up by 48bps during the quarter, to9.37percent. The company’s consolidated net worth stood at Rs4,341.52crore as of December 31, 2018. The book value per share stood at Rs.51.51and its capital adequacy ratio was at 26.36percent.
Results at a glance
Consolidated
Rs. in Crore
Particulars
Q3 FY 2019 (IND AS)
Q3 FY 2018 (IND AS)
% Growth YoY
Income from operations
1081.20
872.00
23.99%
Profit before tax
387.84
265.36
46.16%
Profit after tax (After minority interest)
244.11
171.73
42.15%
AUM
17783.06
14650.16
21.38%
Net Worth
4341.52
3698.91
17.37%
Return on Assets (%)
5.15%
4.50%

Return on Equity (%)
23.02%
19.06%

No. of branches
4314
4183
Total No. of Employees
25202
24761
Stand alone
Rs. in Crore
Particulars
Q3 FY 2019 (IND AS)
Q3 FY 2018 (IND AS)
% Growth YoY
AUM
    14,207.33
 12,196.29
16.49%
Gold loan AUM
12,524.91
 11,327.08
10.57%
Gold Holding (Tonnes)
    66.32
        62.34
6.38%
Total Live gold loan customers (in mn)
        2.38
          2.22
7.39%
Comm. Vehicle Loans AUM
        975.54
      499.81
95.18%
Gold loans disbursed
     21,028.53
 16,164.00
30.09%
Capital Adequacy Ratio
26.36%
27.88%

Cost of Fund
9.37%
8.56%

Gross NPA (%)
0.58%
0.69%

Net NPA (%)
0.32%
0.42%

Number of Branches
3349
3318
Subsidiaries



Microfinance - AUM
3195.16
2111.65
51.31%
Home Loans - AUM
478.00
342.22
39.68%

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