Latest news with #ManappuramFinance
Business Standard
2 days ago
- Business
- Business Standard
Manappuram Finance consolidated net profit declines 75.05% in the June 2025 quarter
Sales decline 9.08% to Rs 2262.39 crore Net profit of Manappuram Finance declined 75.05% to Rs 138.38 crore in the quarter ended June 2025 as against Rs 554.62 crore during the previous quarter ended June 2024. Sales declined 9.08% to Rs 2262.39 crore in the quarter ended June 2025 as against Rs 2488.22 crore during the previous quarter ended June 2024. Particulars Quarter Ended Jun. 2025 Jun. 2024 % Var. Sales 2262.392488.22 -9 OPM % 45.4865.98 - PBDT 176.31817.19 -78 PBT 101.52752.80 -87 NP 138.38554.62 -75
Business Recorder
2 days ago
- Business
- Business Recorder
India's Manappuram Finance posts drop in profit on microfinance weakness
Indian gold-loan financier Manappuram Finance reported a drop in first-quarter profit on Friday, as bad-loan provisions in the microfinance segment jumped. The company's consolidated net profit fell 75% year-on-year to 1.38 billion rupees for the quarter ended June 30. Indian lenders have been reporting rising default rates in microfinance loans - collateral-free small loans to borrowers - following a period of aggressive lending in the segment. Bad loans and provisions in Manappuram's microfinance unit nearly tripled to 4.83 billion rupees, accounting for a large chunk of the total company-wide provisions of 5.59 billion rupees. Its net interest income - the difference between interest earned and paid out - declined 14.2% to 14.07 billion rupees. Revenue from the microfinance business fell 53.5% to 3.61 billion rupees, while revenue from the gold loan segment rose 10% to 19.04 billion rupees as bullion prices climbed in the quarter. The segment contributes 84% of total revenue. The company's total assets under management fell 1.4% to 443.04 billion rupees. Manappuram approved the appointment of V. P. Nandakumar as the chairman of the company on Friday.
Business Upturn
2 days ago
- Business
- Business Upturn
Manappuram Finance Q1 results: Net profit falls 76% YoY to Rs 132.47 crore, Revenue declines 9%
Manappuram Finance reported a steep 76% year-on-year drop in consolidated net profit at Rs 132.47 crore for the quarter ended June 30, 2025, compared to Rs 556.52 crore in the same period last year. Sequentially, the company turned profitable after posting a net loss of Rs 203.19 crore in the March 2025 quarter. Total revenue from operations stood at Rs 2,262.39 crore in Q1 FY26, down 9% from Rs 2,488.22 crore in Q1 FY25 and marginally lower than Rs 2,326.65 crore in Q4 FY25. Interest income accounted for Rs 2,235.65 crore, while fees and commission income came in at Rs 4.96 crore. Finance costs for the quarter were Rs 855.28 crore, while impairment on financial instruments surged to Rs 559.37 crore compared to Rs 228.56 crore a year ago. Employee benefit expenses were at Rs 474.41 crore, and depreciation stood at Rs 74.79 crore. The company's total expenses for the quarter stood at Rs 2,163.42 crore, resulting in a profit before tax of Rs 101.52 crore. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Reuters
2 days ago
- Business
- Reuters
India's Manappuram Finance posts drop in first-quarter profit on higher provisions
Aug 8 (Reuters) - Indian gold-loan financier Manappuram Finance ( opens new tab reported a drop in first-quarter profit on Friday, hurt by a jump in bad loan provisions. The company's consolidated net profit fell 75% year-on-year to 1.38 billion rupees for the quarter ended June 30. Manappuram approved the appointment of V. P. Nandakumar as the chairman of the company.
Time of India
01-08-2025
- Business
- Time of India
Deepak Reddy takes charge as new CEO of Manappuram Finance Ltd.
As announced on May 9 2025, Manappuram Finance has appointed Deepak Reddy as Chief Executive Officer of the company with effect from Friday, i.e. August 1, 2025. V P Nandakumar , former Managing Director and CEO of Manappuram, now holds the position of MD in the company w.e.f. July 31, 2025. Explore courses from Top Institutes in Please select course: Select a Course Category Operations Management Public Policy MBA healthcare Artificial Intelligence Data Science Leadership CXO Data Analytics Product Management Digital Marketing Project Management Degree Design Thinking PGDM Management Others Cybersecurity Healthcare Finance others Data Science Skills you'll gain: Quality Management & Lean Six Sigma Analytical Tools Supply Chain Management & Strategies Service Operations Management Duration: 10 Months IIM Lucknow IIML Executive Programme in Strategic Operations Management & Supply Chain Analytics Starts on Jan 27, 2024 Get Details Reddy is said to report to former CEO Nandakumar, the company said in a statement. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This Could Be the Best Time to Trade Gold in 5 Years IC Markets Learn More Undo Reddy has more than 30 years of experience across the finance sector. "His leadership philosophy centres on empowering teams to envision, enable and execute, ensuring the organization remains future ready with next generation leaders," the company stated. He has previously worked in Bajaj FinServ Ltd for 17 years, American Express Bank Ltd for 9 years, Standard Chartered Bank for 1.5 years and JVC Onida (at MIRC Electronics Ltd) for 4.5 years. Live Events On BSE, shares of Manappuram Finance Limited were trading at Rs 250.70 per unit as on 10:24 AM on Friday.
