Manappuram Finance announced its Q4FY23 results on 12 May, reports 58.2 per cent rise in net profit 420 crore as compared to 271 crore in the same period last year. The Kerala-based Non-Banking Financial Company (NBFC) declared an interim dividend of Rs. 0.75 per equity share of face value of Rs. 2, subject to the approval of the shareholders.
The company’s net interest income (NII) for the January-March quarter stood at 1,182.6 crore as compared to 986.5 crore in the year-ago period. Total revenue from operations in the fourth quarter was 1,771.68 crore, registering a growth of 19.59 per cent as against Rs. 1,481.35 crore in the year-ago period.
Earlier this month, the Enforcement Directorate (ED) had said that it has frozen the assets of 143 crores after raids at Manappuram Finance MD and CEO VP Nandakumar as part of money laundering probe.
A total of six premises of the company’s headquarters in Thrissur were covered during the ED’s searches. Later, the NBFC clarified in a notification to the stock exchanges that the ED action against its promoter is not linked to the affairs of the listed entity.
Manappuram Finance offers a range of products such as Online Gold Loan, Micro-Home Finance, Forex & Money Transfer, Business Loan, Secured Personal Loan.
Manappuram Finance shares closed down 4.81 per cent on May 12. 109.95 per share on BSE.
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