Manappuram Finance net profit increased a massive 84% to Rs 186.96 crore for the quarter ended March 2012 compared to corresponding previous year quarter on a 91% increase in income from operations to Rs 790.75 crore. Other income rose to Rs 13.01 crore compared to Rs 5.6 crore in the corresponding previous year period. Total income as a result rose 91% to Rs 803.76 crore. Total expenditure of the company (including salary, advertisement, provision on standard assets and other expenses) rose 27% to Rs 159.25 crore. PBDIT increased 118% to Rs 644.51 crore. Interest cost during the quarter was up 171% to Rs 354.57 crore. Depreciation rose 8% to Rs 12.18 crore. As a result PBT for the quarter rose 81% to Rs 277.76 crore. Effective rate of tax fell marginally by 90 bps to 32.7% leading an 84% increase in net profits to Rs 186.96 crore.

AUM of the company rose 54% to Rs 11630.8 crore at the end of FY'12 compared to FY'11 while it fell 6% on a sequential basis.

Gold loan disbursement rose 13% to Rs 5457.9 crore in Q4FY'12 compared to Q4FY'11 but fell 47% over Q3FY'12

Cost of borrowing rose to 13.73% in Q4FY'12 compared to 10.02% in Q4FY'11 and 12.41% in Q3FY'12.

Return on Asset was higher at 5.19% in Q4FY'12 compared to 5.06% in Q4FY'11 and 4.97% in Q3FY'12.

CAR stood at 23.26% at the end of FY'12 out of which tier I capital stood at 20.53% and tier II capital at 2.73%.

Year ended performance

For FY'12 the income from operations increased 124% to Rs 2615.55 crore compared to FY'11. Other income of the company rose 150% to Rs 40.30 crore. Total income as a result rose 125% to Rs 2655.85 crore. The total expenditure increased by 61% to Rs 641.25 crore while the interest cost rose by 221% to Rs 1089.10 crore. Depreciation increased by 127% to Rs 48.29 crore. Thus the PBT was up 107% to Rs 877.21 crore. The net profit rose 109% to Rs 591.46 crore.

Book value of the company stood at Rs 28.3 at the end of March 2012 quarter.

Currently the scrip is hovering around Rs 24.70.

Manappuram Finance: Results