Shares of Manappuram Finance on Tuesday declined 10 per cent to hit lower circuit of Rs. 128.70  as gold loan-focused non-banker's consolidated net profit dropped by 46 per cent year on year (YoY) to Rs 261 crore in Q3FY22.   

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

This NBFC stock further fell as the shares trade on a new 52-week low value of Rs 122 per share in Tuesday's intraday trade on the BSE.  

At 12PM, Shares of the NBFC company was trading lower by Rs 14.25 or 9.97% to Rs 128.75 on the BSE 

Technical data of the NBFC stock shows that Manappuram Finance has given 22% negative return In six month and declined further to 27% in the last one year as on February 15 

See Zee Business Live TV Streaming Below:

Meanwhile, the board of directors of Manappuram Finance also fixed the record date for interim dividend announced by the compamy.  

The company has declared an interim dividend of 0.75Paise (Rupees Seventy- Five Paise Only) per equity share of face value Rs.2. "The company has fixed February 25, 2022 as a record date to ascertain the entitlement of interim dividend among the shareholders. Dividend/dividend warrants shall be paid or dispatched on or before March 15, 2022," the company said in a BSE filing.  

Earlier, Manappuram Finance on Monday reported nearly 46 per cent decline in consolidated net profit at Rs 261 crore in the quarter ended December 2021 as income fell. The non-banking finance company (NBFC) had posted a net profit of Rs 483 crore in the corresponding quarter a year ago.

Total income during the October-December period of 2021-22 was down at Rs 1,506.85 crore, as against Rs 1,650 crore in same period of 2020-21, Manappuram Finance said in a regulatory filing. 

Total expenses during Q3FY22 rose to Rs 1,158.67 crore, as against Rs 992.75 crore in year-ago period. 

The consolidated results of the group include unaudited financial results of subsidiaries - Asirvad Microfinance, Manappuram Home Finance, Manappuram Insurance Brokers and Manappuram Comptech and Consultants.