Manappuram Finance Q1 Review - Gold AUM Grew Sequentially; Net Interest Margins Improved: IDBI Capital

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..IDBI Capital Report.Manappuram Finance Ltd.’s gold loan portfolio grew by 1.6% QoQ (up 24% YoY) as competition eases from banks. Overall assets under management growth improved to 24% YoY versus 11% YoY (FY22) on low base. Micro finance institution reported deterioration in asset quality as gross non-performing asset stood at 7.7% versus 3.5% QoQ; also reported loss (Rs 83 million). We need to watch out for recovery in MFI portfolio in FY23. Net interest income grew by 6.5% QoQ led by improvement in NIMs; pre-provision operating profit grew by 1% YoY led by lower other income (down 20% QoQ). Manappuram Finance's profit after tax grew by 8% QoQ led by lower provisions (down 15% QoQ). Management maintained guidance for gold loan growth at 10% for FY23..Click on the attachment to read the full report:.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Manappuram Finance Q1 Review - Gold AUM Grew Sequentially; Net Interest Margins Improved: IDBI Capital

Manappuram Finance Q1 Review - Gold AUM Grew Sequentially; Net Interest Margins Improved: IDBI Capital

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