NPL asset is at around 1.56 percent. This was around 1.10 percent as of March. The company expects to maintain net interest income (NII) at around Rs 287 crore because it plans to consolidate this year
VP Nandakumar, CMD, Manappuram General Finance explains on CNBC-TV18 that the cost of funds which is currently at 13 percent, will come down as banks reduce rates further. He expects yields to improve going forward and has a visibility of raising additional funding of Rs 1,000 crore.
I Unnikrishnan, ED, Manappuram Gen Fin, says that the business in improving for the company and he expect assets under management (AUM) to grow around 10 percent from September levels for the next six months.
I Unnikrishnan, ED, Manappuram General said that the company‘s loan book de-grew by nearly Rs 600 crore in the last quarter on the back of new loan-to-value norms.
Gold loan financing company Manappuram Finance has reported a better than expected growth of 83.3% year-on-year in its net profit of Rs 187 crore for the fourth quarter of financial year 2011-12.