Manappuram Finance (531213) Q4 99/00 earnings summary

Executive summary

• FY00 operating income rose to Rs 625.06 lakh from Rs 589.72 lakh; net profit fell to Rs 22.82 lakh from Rs 51.20 lakh, mainly on higher depreciation and tax outflow.

• Disbursements reached Rs 1,378.25 lakh and funds deployed Rs 2,075 lakh; diversification into gold loans and two-wheeler/consumer durable finance supported portfolio expansion.

Financial highlights

• Operating income was Rs 625.06 lakh vs Rs 589.72 lakh; total expenditure was Rs 381.71 lakh vs Rs 352.08 lakh.

• Profit before depreciation and taxes was Rs 243.35 lakh vs Rs 237.64 lakh; depreciation was Rs 157.79 lakh and tax provision Rs 62.74 lakh.

• Reported PBT was Rs 85.56 lakh vs Rs 85.36 lakh; PAT was Rs 22.82 lakh vs Rs 51.20 lakh.

• Recommended dividend was 8%; Rs 5 lakh was transferred to statutory reserves.

Outlook and guidance

• Directors expected improved profitability in FY01, citing a diversified portfolio and measures to increase margins.

• Additional working-capital limits were sought from three banks to support expanded and diversified operations; management expressed confidence in approval.

• Gold-loan operations were expected to commence shortly at the Kannur branch.