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Shares of non-banking finance company Manappuram Finance rose. On Wednesday, the company’s stock rose 10 percent to Rs. reached 154.65. Shares of Manappuram Finance Rs. Very close to the 52-week high of 156.55. The sharp rise in the company’s shares has come on the back of excellent results for the September 2023 quarter. Manappuram Finance’s consolidated profit for the July-September 2023 quarter stood at Rs. 560.65 crores.
Manappuram Finance’s profit rose 37%
Manappuram Finance’s profit rose 37% year-on-year to Rs 560.65 crore in the September quarter of the current financial year. In the same period last year, the company made Rs. 409.5 crore profit was made. Manappuram Finance’s profit grew 12.6% on a quarterly basis. The company in June 2023 quarter Rs. 498.02 crore profit was made. The non-banking finance company paid Rs. Also declared an interim dividend of 0.85. The company has fixed the record date of interim dividend as 24 November 2023.
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Net Interest Income Rs. 1468 crores
Manappuram Finance’s net interest income for the September 2023 quarter rose 25% to Rs. 1468 crore has been done. During the same period last year, the company’s net interest income was Rs. 1168 crores. During the July-September 2023 quarter, the company’s total revenue stood at Rs. 2174 crore, which was Rs. 1714 crores. If we talk segment wise, gold loan and other categories of business contributed to the total revenue of the company at Rs. 1537.22 crore has been contributed. While the contribution of micro finance category is Rs. 636.80 crore has been.