Manappuram Finance Q3 net profit dips by 48%
By Vaibhav Aggarwal
Feb 8, 2013
Print    Email    RSS   

Manappuram Finance Ltd recorded dip in net profit by 48 per cent to Rs 84.38 crore in the third quarter of the current financial year which ended on December 31, 2012.

The company recorded Rs 161.37 crore in the corresponding quarter of the previous year.

Operating income dipped to Rs 586.20 crore against Rs 721.37 crore in the similar quarter of the last year. The profit before tax (PBT) stood at Rs 124.57 crore as against Rs 239.54 crore.

Provisioning for income tax was Rs 40.19 crore as against Rs 78.17 crore.

Mr. V P Nandakumar, Managing director and CEO of Manappuram Finance said "However, we are confident that with the positive report of the K. U. B. Rao Committee, and renewed willingness on the part of the banking sector, mutual funds and institutional investors to fund gold loans, the outlook from now on would be positive".

The company attributed the dip in profits to the fall in yield following the realignment of the lending rates in line with lower LTV norms. Moreover, the company has launched lower yielding gold loan products to restart growth in disbursements.


(Comments Posted : 0) Post Your Comments
Show All Comments
 Select a product:

 Select a product:

Benefits and drawbacks of personal loans...
Manage your loans, avoid recovery agents
Carnival of Indian Personal Finance Blogs # 7
Bank loans that could glitter for you
Know about Form 16

HOTEL: CaℒL Giℛℒs In Kharar 09855660911...
Model Escoℛts Service In Pune 8888IOO484 Caℓℓ...
What is the outstanding Amount for my personal loan

LVB bank joined hands with NCML Feb 18, 2015
Syndicate Bank hiring 5000 new staff Feb 12, 2015
SBI donated Rs 8.6 cr as a part of CSR activity Feb 11, 2015
Canara Bank tied up with NHBC Feb 9, 2015
Hiring for Probationary clerks in South Indian Bank Feb 5, 2015
News Archive