NEWS & ADVICE : PERSONAL LOAN
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
COMPARE QUICKLY
 Select a product:
 

CALCULATE QUICKLY
 Select a product:
 

EDITORS' PICKS
Central Bank of India ordered to return...
Carnival of Indian Personal Finance Blogs #6
Gold based financing; 'loan to buy gold...
Need of Financial inclusion: making the...
Now, Do Banking on Social Media Sites


what is my last premium date? how can i find it?
Call Giri In Kr.Puram Mahadevapura Indranagar Call...
personal loan status of agreement number...
SIR/MADAM MY SELF PRIYA SHARMA PAN CARD FFTPS3791P...
SANGRUR: CaℒL Giℛℒ In Bathinda 09855660911...

NEWS THIS WEEK
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