Manappuram Finance Ltd. Books 109% growth in net profits
By Vaibhav Aggarwal
May 22, 2012
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The Kerala based NBFC- Mannapuram Finance Ltd. saw a huge growth in its net profits in the FY'12. The company's bottom line stood at Rs. 591.46 crore compared with Rs. 282.66 crore in the previous year.

This growth in the net profit was fuelled by a healthy increase in the Assets under management (AUM), which grew by 54% to Rs.11, 630 crore. There was also an increase of 75% in the gold loan books, which stood at Rs. 31,698 crore compared to Rs. 18,057 in FY '11.

Operating income increased from Rs. 1,165.42 crore to Rs. 2615.55 crore, a 124.2 % growth YoY. The provisions towards income tax for the fiscal were Rs. 285.75 crore against Rs. 141.23 crore FY ‘11.

The NBFC added over 800 branches over the year to increase its branches from 2,064 to 2,908.

The BSE listed stock also announced earnings per share (EPS) of Rs. 7.06, and have also announced a dividend of Re 1 per share of face value of Rs. 2.

The board also approved a management reshuffle, with a new Non-Executive Chairman in Mr. Jagdish Capoor, former Chairman HDFC Bank. Mr. V.P. Nandakumar, who was previously the Executive Chairman, would now be the CEO and MD.

Joint Managing Director, Mr. B.N. Raveendra Babu is re-designated as Executive Director, and the MD, Mr. I. Unnikrishnan has been re-designated as the Deputy CEO.


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