Manappuram Finance profit soars in Q1, share price increases
Manappuram Finance: Today’s share increased 3.62 per cent to hit its new 52-week high of Rs 147.50. It finally settled 2.70 per cent higher at Rs 146.20.
About 12.64 lakh stocks changed hands today, almost double the two-week average volume of 4.99 lakh shares. Turnover on the counter was Rs 18.39 crore, commanding a market capitalisation (m-cap) of Rs 12,340.44 crore.
Manappuram Finance on Thursday reported a nearly 76 per cent climb in its June quarter consolidated net profit for the financial year 2023-24 (Q1 FY24). The Kerala-based non-banking financial firm’s earnings were Rs 495.89 crore in Q1 FY24, up 75.79 per cent from Rs 282.08 crore in the year-ago time. Income from operations was at Rs 2,026.26 crore in June 2023 quarter, 34.91 per cent higher than Rs 1,501.98 crore posted in the corresponding term last year.
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In addition, Manappuram announced an interim dividend of 80 paise per equity share with a face value of Rs 2. “Fixed August 23, 2023, as the record date to verify the entitlement of interim dividend among the shareholders and dividend/dividend warrants shall be paid or dispatched on or before September 8, 2023,” it said.
The share has earned over 22 per cent on a year-to-date (YTD) basis and around 37 per cent yearly.
