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Read more about Manappuram Finance gains after decent Q4 performance on Business Standard. Manappuram Finance rose 1.44% to Rs 161.85 after the company s consolidated net profit increased 18.6% to Rs 468.33 crore on 1.1% rise in total revenue from operations to Rs 1622.32 crore in Q4 FY21 over Q4 FY20.
Manappuram Finance Q4 results: Net profit rises 35% to Rs 458 cr
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Opportunity for lending against gold as collateral remained high as availability of other personal loans fell as lenders in general turned risk averse, Manappuram Finance managing director VP Nandakumar told ET.
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Rising gold prices also allowed people to borrow more against the pledged gold, helping its gold loan portfolio grow 12.44% to Rs 19,077 crore.
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Kolkata:
Manappuram Finance, which lends against gold ornaments, on Wednesday reported 35% rise in its standalone net profit at Rs 458 crore in the March quarter, riding on surge in gold loan demand during the pandemic.