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Manappuram Finance Ltd.’s consolidated profit after tax grew 18% YoY to Rs 4.7 billion (5% miss) in Q4 FY21.
While operating profit was largely in line, higher provisions (from the micro finance institution segment) led to the profit after tax miss.
Gold prices in Q4 FY21 were down 12% QoQ. Two other factors led to the decline in the loan book:
- auction of Rs 4 billion worth of gold loans, and
- 4% decline in tonnage to 65 million tonne.
However, these were offset by an increase in loan-to-value to 71% from 63%.
All the other segments delivered sequential loan book growth – the most prominent being the MFI segment with 11% growth.
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