- Manappuram Finance Q1 net profit rose 40.8% to Rs 552 crore year-on-year
- Net interest income increased 31% to Rs 1,436 crore, below estimates
- Net profit exceeded Bloomberg estimate of Rs 502 crore for the quarter
Manappuram Finance first quarter results for fiscal 2027 on Tuesday, August 11, reporting a 40.8% growth in net profit. The Kerala-based NBFC's bottomline stood at Rs 552 crore in April to June quarter from Rs 392 crore in the corresponding period last year. Net profit exceeded Bloomberg estimate of Rs 502 crore.
Net interest income (NII) rose 31% year-on-year to Rs 1,436 crore from Rs 1,096 crore, but fell short of the estimated Rs 1,585 crore. Assets under management (AUM) rose 57% to Rs 69,635 crore in the April to June quarter from Rs 44,304 crore in Q1FY26, beating the estimate of Rs 69,092 crore.
Manappuram Finance Board approved raising up to Rs 1 lakh crore via NCDs and other instruments. The company in an exchange filing said, "Raising of funds, including by way of issuance of listed Non-Convertible Debentures/Bonds and Commercial Papers, as part of the proposed enhancement of the borrowing limits of the Company to Rs. 1,00,000 crores (Rupees One Lakh Crores), subject to the approval of the shareholders of the Company."
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The board has also appointed Ashish Singh as MD and CEO from January 1 for a five-year period. With over 25 years of experience in the retail banking space, Singh particularly focuses on rural lending businesses and retail liabilities. In his latest stint, he has been Head of Retail Liabilities at IDFC FIRST Bank. Prior to this, he was leading the bank's Bharat Banking business, overseeing asset product portfolio and branch network. Singh has also held senior positions at Fullerton India and ICICI Bank, with contributions to rural banking, product innovation, and financial inclusion.
Manappuram Finance Q1 Result Highlights (YoY)
- Net Profit up 40.8% at Rs 552 crore versus Rs 392 crore.
- NII up 31% at Rs 1,436 crore versus Rs 1,096 crore.
- Net Profit at Rs 552 crore versus estimate of Rs 502 crore.
- NII at Rs 1,436 crore versus estimate of Rs 1,585 crore.
- Approves raising up to Rs 1 lakh crore via NCDs and other instruments.
- Appoints Ashish Singh as MD & CEO for five years, effective January 1.
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