Manappuram Fin at new low

Manappuram Finance is among the top three losers on the BSE since the opening bell today. The reason – poor show for Q4FY22.

The company reported a 44% (YoY) decline in net profit at Rs.261 crore. Its NII too fell 10% to Rs.986 crore. Income from operations came in 9% lower at Rs.1481 crore.

The company said that its PAT was affected temporarily due to shifting of high yield to lower yielding gold loans. It has reduced operating expenses during this quarter and hopes to maintain it at this level.

It ended FY22 with a 23% drop in net profit at Rs.1320 crore on a 4% decline in income at Rs.6061 crore.

The stock, which had closed yesterday at Rs.104.60, opened lower at Rs.95 today, going on to hit a new 52-week low at Rs.91.95; it has recouped a bit and is now trading at Rs.94 levels.