Shares of Manappuram Finance fell nearly 2% on Wednesday following the release of its Q2 financial results, which highlighted the company’s lowest year-on-year (YoY) asset under management (AUM) growth in six quarters and a decline in asset quality. For the quarter ended September 30, 2024, Manappuram Finance reported a modest 2% YoY increase in net profit to ₹572.1 crore, compared to ₹560.6 crore in the same quarter last year.
The company’s net interest income (NII) saw a 17.4% increase to ₹1,727.4 crore, up from ₹1,471.2 crore YoY. However, concerns were raised over the company’s asset quality, with gross non-performing assets (GNPA) rising to 2.43% in Q2 from 1.96% in the previous quarter. Similarly, net NPA also increased to 2.15% from 1.7% quarter-on-quarter, signaling a deterioration in loan performance.
Manappuram Finance announced an interim dividend of ₹1 per equity share with a face value of ₹2, setting November 18, 2024, as the record date for entitlement. Dividend payments are scheduled for disbursement by December 4, 2024.
As of 10:42 am, Manappuram Finance shares were trading down 1.71% at ₹156.26 on the NSE.
