Manappuram Finance Q2 results: Profit soars 77% YoY, but NPAs rise

Gold loan company Manappuram Finance reported a 77% year-on-year surge in standalone net profit at Rs 665 crore for the second quarter against Rs 376 crore in the year-ago period while asset quality deteriorated sequentially.

The lender's pre-provision operating profit for the quarter jumped 73% at Rs 1112 crore against Rs 642 crore in the second quarter of the last fiscal, as net operating income grew 43% at Rs 1653 crore. The income growth outpaced the rise in operating expenses, which stood about 6% higher at 540 crore.

Manappuram's standalone assets under management expanded 69% year-on-year to Rs 63733 crore at the end of September. Gold loans expanded faster, recording a 92% surge to Rs 58097 crore.


Its gross non-performing assets ratio rose to 1.8% at the end of the second quarter from 1.6% three months prior.

Indel Money Q2 profit surges 222% to Rs 80 crore; eyes IPO in 3 years

Gold loan company Indel Money with Rs 5000 crore of assets under management reported a 222% year-on-year surge in second quarter net profit Rs 80 crore. The lender's net income more than doubled to Rs 160 crore, the company said in a release. The non-bank lender said its AUM grew 83% year-on-year. The company said it is targeting to achieve Rs 6,200-crore AUM by the end of the current financial year (FY27) and is planning to go public in the next three years.