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Motilal Oswal Report
Manappuram Finance Ltd.'s Q2 FY21 profit after tax was flat YoY at Rs 4.1 billion (in-line).
Consolidated net interest income/pre-provision operating profit grew 20% YoY to Rs 9.8 billion/Rs 6.5 billion.
The quarter was characterized by strong gold loan growth and improving collection efficiency in non-gold segments.
The gold loan business remains on a strong trajectory, and with loan-to-value of 61%, there is good room for growth.
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