Tag: gold loan

Shares of Manappuram Finance hit a 52-week low of Rs 123.85 after they slipped 13 percent on the BSE in Tuesday's intra-day trade after the financier reported a 46 percent year-on-year (YoY) drop in consolidated net profit at Rs 261 crore in the December quarter (Q3FY22), due to weak operational performance. The non-banking finance company (NBFC) had posted a net profit of Rs 483 crore in the corresponding quarter a year ago. Net interest income (NII) fell 12 percent YoY to Rs 915 crore driven by a sharp compression in spreads. Total income during the October-December period of 2021-22 was down at Rs 1,506.85 crore, as against Rs 1,650 crore in same Technical data of the NBFC stock shows that Manappuram Finance has given a 22% negative return In six months and declined further to 27% in the last year as of February 15. In Q3FY22, profit before tax (PBT) of gold loan and other segments declined 44 percent YoY at Rs 347 crore, Read more

Shares of Manappuram Finance slipped 15 percent at Rs 163.45 on the BSE in the intra-day trade on Wednesday after the company reported consolidated profit after tax (PAT) at Rs 436.90 crore, The company has posted Rs 368.11 crore during the previous quarter ended June 2020, up 18.7 percent year on year (YoY), but down 8 percent quarter on quarter (QoQ) for the quarter ended June 2021 (Q1FY22). The company missed street’s expectations due to lower net interest income (NII) in the first quarter of the financial year 2021-22 (April-June). Income from operations was up by 3.4 percent to Rs 1,565 crore in Q1FY22 as against Rs 1,513 crore in Q1FY21, Manappuram Finance said in a regulatory filing. The gold loan book declined 13 percent QoQ to Rs 16,500 crore and gold holdings slipped 11 percent QoQ to 58.1 tonnages. Its assets under management (AUM) hit a six-quarter low. Read more

Shares of the Kerala-based lender Muthoot Finance on Thursday jumped 19 per cent after the company reported a 52.4 per cent jump in consolidated net profit at Rs 835.78 crore in the last quarter of the fiscal ended March 2020, due to higher demand for gold loans. The company had posted a net profit of Rs 548.56 crore during the corresponding quarter of fiscal ended March 2019. The Company's asset under management grew 22% year-on-year and a 15% fall in provisions helped boost net profit. The fall in provisions is a fallout of a drop in bad assets. Performance for the last year has been good for the company because of the strong performance of the gold loan business, it said. Its total income during March quarter of FY20 rose to Rs 2,633.58 crore from Rs 2,088.84 crore in the year-ago period, MFIN said in a regulatory filing. For the fiscal year 2019-20, the company reported a 51 per cent jump in consolidated net profit at Rs 3,168.68 crore as against Rs 2,102.96 crore in 2018-19. Read more