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%
|
No comments:
Post a Comment