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Manappuram Finance jumps 7% on higher gold loan disbursements in FY20

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MUMBAI: Shares of Manappuram Finance Ltd on Friday surged more than 7% as the firm's total gold loan disbursements during fiscal 2020 rose to ₹1.7 trillion from ₹89,649 crore last year.

The company's profit after tax grew 43% year-on-year (YoY) at ₹392.7 crore in the quarter ended March, compared to ₹274.6 crore in same period last fiscal.

Total income rose 38.7% to ₹1618.2 crore in Q4, against ₹1,166.5 crore in the year-ago period. Consolidated assets under management (AUM) were at Rs.

25,225 crore, up 29.8%, compared to ₹19,438 crore in the previous year. Growth was led by gold loans, which increased by 30.9% to ₹16,967 crore. "At ₹17000 crore, MGFL’s gold loan AUM increased 31% YoY in the March quarter, continuing its growth streak for

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COVID-19
United States
United States
Cases: 46 252 513
Deaths: 750 423
Recovered: 0
India
India
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Deaths: 459 652
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Brazil
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Recovered: 0
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Deaths: 141 607
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Russia
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Recovered: 0
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