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Manappuram Finance Q3 Review - Gold Loan Growth Slows; MFI Book Growth Rebounds: Motilal Oswal 

Manappuram Finance Q3 Review - Gold Loan Growth Slows; MFI Book Growth Rebounds: Motilal Oswal 

An employee counts Indian rupee banknotes inside  jewellery store   in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)
An employee counts Indian rupee banknotes inside jewellery store  in Mumbai, India (Photographer Dhiraj Singh/Bloomberg)

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Manappuram Finance Ltd.’s Q3 FY21 profit after tax grew 20% YoY to Rs 4.8 billion (13% beat). Beats were reported on both operating profit (9% beat) and provisions (20% beat).

In nine months FY21, the company delivered 17%/28%/17% net interest income /pre-provision operating profit/PAT growth.

Consolidated asset under management grew 3% QoQ / 14% YoY to Rs 276 billion. Overall gold loan growth slowed, yet remained healthy.

The micro finance institution book, on the other hand, saw a meaningful sequential uptick in the loan book. On the other hand, the vehicle finance book continues to run down.

Click on the attachment to read the full report:

Motilal Oswal Manappuram Q3FY21 Result Update.pdf

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