Gold loan finance company Manappuram Finance today said its consolidated net profit rose 34.3 per cent to Rs 59.30 crore in the April-June period, helped by healthy growth in assets under management.
The company had reported a profit after tax of Rs 44.15 crore in the year-ago quarter.
Total consolidated operating income grew 18 per cent to Rs 539.04 crore as against Rs 456.57 crore in the same period last year, a company release said.
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Assets under management (AUM) rose by 23 per cent to Rs 10,105 crore from Rs 8,206 crore in the same period last year.
The gold loan assets under management increased by 17.02 per cent to Rs 9,592.44 crore from Rs 8,197.50 crore in the corresponding period last year.
Aggregate gold loans disbursed during the quarter was Rs 8,188 crore.
The company's newly formed microfinance subsidiary, Asirvad Microfinance, ended the quarter with an AUM of Rs 418.31 crore, up 30 per cent compared with Rs 322 crore as of March 31, 2015.
Commercial vehicle loans and mortgage-based finance have together contributed about Rs 90 crore to the AUM.
"All our new ventures-in microfinance, housing and vehicle loans and loans against property have achieved substantial growth in the last quarter, and we will continue our quest to diversify and de-risk the portfolio," company's managing director and CEO V P Nandakumar said.
In the quarter, the net NPA stood at 1.01 per cent.
The company added 2.73 lakh new customers in the quarter taking the number of live customers to 18.13 lakh as of June 30.
