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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
Disappointment was shown by many on Infosys' fourth quarter results. It reported 6-10 percent top-line growth guidance for FY14, which was lower than what the street had forecast. Rahul Bhasin, Baring Private Equity Partners said that it will be unrealistic to expect the historical growth.
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.
Emkay Global Financial Services has come with its September quarterly earning estimates for Banking and Financial Services sector. According to the research firm, top picks for the quarterly results - HDFC Bank, ICICI Bank and United bank in banking space. Mahindra Finance and CRISIL are our top picks in NBFC space.
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.
Emkay Global Financial Services has come with its June quarterly earning estimates for Banking and Financial Services sector. According to the research firm, lower NII growth is expected to be driven by sluggish advance growth and 5-15 bps contraction in NIMs led by decline in yield on assets and cost pressures.
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.
Manappuram Finance is expected to report a massive growth of 62% year-on-year in its profit after tax of Rs 165 crore for the fourth quarter of FY12, according to CNBC-TV18 poll.
VP Nandakumar, chairman and managing director of Manappuram Finance & Leasing in an interview to CNBC-TV18 said, the company aims to grow its assets under management (AUMs) by another Rs 1,000 crore in Q4.