Manappuram Finance gains 6% post Q2 results

The stock was up 6% to Rs 87.40 on the BSE after the company reported 41% Y-o-Y jump in consolidated net profit at Rs 2.24 billion in September quarter.

Shares of Manappuram Finance have moved higher by 6% to Rs 87.40 per share on the BSE after the company reported 41% year-on-year (Y-o-Y) jump in consolidated net profit at Rs 2.24 billion for the quarter ended September 30, 2018 (Q2FY19). It had a profit of Rs 1.59 billion in the year-ago quarter.

Total consolidated operating income during the quarter grew 22% Y-o-Y at Rs 10.14 billion against Rs 8.31 billion reported in the year-ago quarter. Consolidated assets under management (AUM) grew 25 % to Rs 172 billion from Rs 137 billion in the year-ago quarter.

Meanwhile, the