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Manappuram Finance Limited posted a 42 per cent increase in its net profit for the third quarter at ₹244.11 crore compared to ₹171.73 crore in the corresponding period of the previous fiscal. The net quarterly profit of the standalone entity (which excludes subsidiaries) grew by 24.4 per cent to ₹210.83 crore.
The total consolidated operating income during the quarter stood at ₹1,081.20 crore compared to ₹872.00 crore. The consolidated assets under management grew by 21.4 per cent to ₹17,783.06 crore, against ₹14,650.16 crore. The Board of Directors approved payment of interim dividend of ₹0.55 per share of face value of ₹2.
VP 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 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.”