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Informist, Friday, Aug. 8, 2025

--Manappuram Fin board OKs appointing Nandakumar as chairman from Aug 28 
--Manappuram Fin board OKs appointing MD VP Nandakumar as chairman 
--Manappuram Fin interim dividend record date is Thursday 
--Manappuram Fin to pay INR 0.50 per share interim dividend 
--Manappuram Fin Apr-Jun consol revenue INR 22.62 bln vs INR 24.88 bln yr ago 
--Manappuram Fin Apr-Jun consol PAT INR 1.38 bln vs INR 5.55 bln year ago 

By Krity Ambey

NEW DELHI – Manappuram Finance Ltd. reported a 75% fall in its consolidated net profit for the June quarter as the company's provisions more than doubled. With a net profit of INR 1.38 billion in Apr-Jun, the lender was still better placed than the trailing quarter, when it had posted a loss of INR 1.91 billion.

The company's provisions more than doubled to INR 5.60 billion in the reporting quarter from INR 2.29 billion in the year-ago period. However, sequentially, the provisions have fallen 39.2%. The lender's microfinance business had performed poorly in the March quarter. 

The company's revenue from operations fell 9.1% in the reporting quarter to INR 22.62 billion. On quarter, the revenue from operations was down 2.8%. Manappuram Finance's total income was INR 22.65 billion in Apr-Jun, down 9.8% on year.

Led by a rise in provisions, Manappuram Finance saw a 23% on-year surge in total expenses at INR 21.63 billion. Within this, employee benefit expenses rose 6.3% on year to INR 4.74 billion, and finance costs were up only 0.8% on year at INR INR 8.55 billion. 

Manappuram Finance, one of India's biggest gold loan providers, also declared interim dividend of INR 0.5 per share, with Aug. 14 as the record date for reckoning the eligibility of shareholders. The company detailed its results for the June quarter after market hours. On Friday, shares of the company closed 0.9% lower at INR 258.50 on the National Stock Exchange. 

At Friday's meeting, the board of Manappuram Finance also approved the appointment of Managing Director V. P. Nandakumar as the chairman of the comapny. Nandakumar will take charge on Aug. 28 after the retirement of Chairman Shailesh Jayantilal Mehta.  End

Edited by Avishek Dutta

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