Shares of Manappuram Finance slumped 14.5 percent at Rs 163.35 per share on the BSE intraday trade on Wednesday, a day after the company reported its earnings for the June quarter.

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During market hours on Tuesday, Manappuram reported a net profit of Rs 436.53 crore in the quarter ended June 2021 as against Rs 368.11 crore during the previous quarter ended June 2020. Income from operations was up by 3.4 per cent to Rs 1,565 crore in Q1FY22 as against Rs 1,513 crore in Q1FY21, Manappuram Finance said in a regulatory filing.

Net interest income grew by 13.3 per cent to Rs 1,072 crore as against Rs 946 crore in the year-ago quarter. The cost of borrowing declined by 16 bps on a sequential basis during the April-June quarter, it said.

However, its assets under management (AUM) hit a six-quarter low. According to India's number two gold financing company, its gold AUM during the quarter fell 6.8 per cent to Rs 16,500 crore from Rs 17,700 crore. The gold tonnage dipped by 16 per cent to 58.1 tonne from 69 tonne.

Non-gold AUM, however, grew by eight per cent to Rs 8,200 crore from Rs 7,600 crore. Provisions for bad loans were down by 16 per cent to Rs 122 crore for the quarter from Rs 145 crore a year ago.

At 1.20 pm, Manappuram Finance shares were trading 11.64 percent lower at Rs 169.20 apiece on the bourse, sharply underperforming the benchmark S&P BSE Sensex index, which gave up its initial gains to trade 0.17 percent lower.

(With inputs from PTI)

First Published:Aug 11, 2021 10:24 AM IST