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By Malvika Gurung
Investing.com — The non-banking finance company Manappuram Finance (NS:) tanked 11.27% to Rs 126.8 apiece at 11:45 am, recording a fresh 52-week low on Tuesday, following a poor Q3 performance.
The company’s consolidated net profit declined 46% to Rs 261 crore in the Dec-ending quarter, on a YoY basis, led by weak operational performance. Its net interest income fell 12% YoY to Rs 915 crore, due to sharp compression in spreads.
Moreover, the lender’s total income shrank in Q3 on a YoY basis, marginally to Rs 1,506.85 crore, compared to Rs 1,650 crore reported in the year-ago period, while its total expenses climbed 16.7% YoY to Rs 1,158.67 crore.
The company’s board also declared an interim dividend of Rs 0.75/share with a face value of Rs 2 each, in the meeting.
Over the past three months, the finance company’s shares have plunged 35%, compared to the headline index , which has slid 7% in the period.
The Kerala-based lender’s profit before tax in the gold loan and others segment fell 44% YoY to Rs 347 crore in Q3 FY22, while in the microfinance segment, its performance was a total flop show, sliding sharply to 0.78 crores in the quarter under focus, tanking 97.6% YoY.
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