Net profit rises 37% to Rs 561 crore; declares dividend

Non-banking finance company (NBFC) Manappuram Finance on Monday reported a 37% year-on-year (YoY) increase in consolidated net profit at ₹560.65 crore for the quarter ended September 30, 2023. The NBFC, which is mainly into gold loans, had posted a net profit of ₹409 crore in the year-ago quarter. Sequentially, profit grew by 12.5% from the previous June quarter.

The company has also declared an interim dividend of ₹0.85 per equity share of face value ₹2. The record date for the same has been fixed as November 24, 2023, and the dividend will be paid on or before December 12, 2023.

Following the earnings announcement, shares of Manappuram Finance Ltd jumped 4.66% to settle at ₹144.80. The scrip has gained 31.46% in the last six months.