Manappuram Q3 net profit up 42 per cent, stock gains

Manappuram Finance Limited has declared a good set of numbers for third quarter FY19. Shares of Mannappuram reached an intraday high of Rs. 104.15 per share on the BSE on Thursday.  

Consolidated net profit for the third quarter ending on December 31, 2018 was at Rs. 244.11 crore, a sharp increase of 42 per cent over Rs. 171.73 crore recorded in Q3FY18. Net quarterly profit of the standalone entity (which excludes subsidiaries) grew by 24.4 per cent to Rs. 210.83 crore. 
 
Total consolidated operating income during the quarter stood at Rs. 1,081.20 crore, an increase of 24 per cent compared to Rs. 872.00 crore reported in the year-ago quarter. Consolidated assets under management (AUM) grew by 21.4 per cent to Rs. 17,783.06 crore, against Rs. 14,650.16 crore reported in the year-ago quarter. 
The company's Board of Directors approved payment of interim dividend of Rs. 0.55 per share of face value of Rs. 2 per share. 

The shares of the company on Thursday opened at Rs. 100 against its previous close of Rs. 96.60 per share on the BSE. At 14:55 hours, the stock was trading at Rs 104.15, up by 7.82 per cent. Its intraday high was Rs. 105.75 and intraday low was Rs. 97.40. Its 52-week high was Rs. 130.45 and the 52-week low was Rs. 66.40 per share on the BSE. Meanwhile, the BSE Sensex was at 37,100.09, up by 0.34 per cent.