Manappuram Finance Ltd. recorded a 75% decline in its bottom line in the first quarter of financial year, according to an exchange filing on Friday.
The non-banking financial company posted a consolidated net profit of Rs 138 crore in comparison to Rs 555 crore in the year-ago period.
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Manappuram Finance Q1 Highlights (Consolidated, YoY)
Net profit declines 75% to Rs 138 crore versus Rs 555 crore.
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Calculated NII declines 10.2% to Rs 1,380 crore versus Rs 1,538 crore.
Impairment at Rs 559 crore versus Rs 229 crore.
The firm approved the appointment of V P Nandakumar as its chairperson, effective Aug. 28.
Shares of Manappuram Finance closed 1.36% lower at Rs 257 apiece on the NSE, compared to a 0.95% fall in the benchmark Nifty.
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