Q2 Results: This company had a loss of 8.8 percent in the second quarter, know how much profit fell?

Manappuram Finance Q2 Result: Manappuram Finance’s consolidated net profit fell 8.8 per cent to Rs 369.88 crore in the second quarter of the current fiscal due to decline in earnings. The non-banking finance company said in a release that its net profit stood at Rs 405.44 crore in the same period of the previous financial year.

Profits fell 8.8 percent
According to the company, its profit fell 8.8 percent in the July-September quarter compared to a year ago. However, its consolidated assets under management (AUM) grew by 5.7 per cent to Rs 28,421.63 crore in the second quarter.

decrease in income
Operating income of Manappuram Finance declined by 2.15 percent. It declined to Rs 1,531.92 crore from Rs 1,565.58 crore in the same period a year ago. The Board of Directors has declared an interim dividend of Rs 0.75 per share.

What did the CEO of the company say?
VP Nandakumar, managing director and chief executive officer of the company, said, “This quarter saw a significant increase in our business volumes. We grew in gold loan, microfinance or home and auto loan portfolio.”

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