Manappuram Finance Q2 net profit jumps ~2% y-o-y

6 Nov 2024 , 09:15 AM

On Tuesday (November 5), Manappuram Finance Ltd announced a 2% YoY increase in net profit to ₹572.1 Crore for the second quarter ending September 30, 2024.

In the preceding fiscal quarter, Manappuram Finance reported a net profit of ₹560.6 Crore, according to a regulatory filing.

Net interest income (NII), which is the difference between the interest revenue a bank receives from its lending activities and the interest it pays to depositors, soared 17.4% to ₹1,727.4 Crore from ₹1,471.2 Crore in the same quarter of FY24.

The gross non-performing asset (GNPA) ratio was 2.43% in the September quarter, compared to 1.96% in the June quarter. Net NPA increased to 2.15% from 1.7% in the previous quarter. 

The board declared an interim dividend of ₹1 per equity share with face value of ₹2. The firm has set November 18, 2024 as the record date for determining the eligibility to interim dividends among shareholders, and dividend warrants will be paid or despatched on or before December 4, 2024.

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