Gold loan financier Manappuram Finance Ltd on Tuesday (November 5) reported a 2% year-on-year (YoY) rise in net profit at ₹572.1 crore for the second quarter that ended on September 30, 2024.

In the corresponding quarter of the previous fiscal, Manappuram Finance posted a net profit of ₹560.6 crore, the company said in a regulatory filing.

Net interest income (NII), which is the difference between the interest income a bank earns from its lending activities and the interest it pays to depositors, surged 17.4%, coming at ₹1,727.4 crore against ₹1,471.2 crore in the corresponding quarter of FY24.

Also Read: Titan Q2 Results | Net profit dives 25% to ₹705 crore, revenue up 13%; misses estimates

The gross non-performing asset (GNPA) stood at 2.43% in the September quarter against 1.96% in the June quarter. Net NPA came at 2.15% against 1.7% quarter-on-quarter.

The board has declared an interim dividend of ₹1 per equity share of face value ₹2. The company has fixed November 18, 2024, as the record date to ascertain the entitlement of interim dividend among the shareholders and dividend warrants shall be paid or dispatched on or before December 04, 2024.

The results came after the close of the market hours. Shares of Manappuram Finance Ltd ended at ₹158.85, up by ₹5.95, or 3.89% on the BSE.

Also Read: Mankind Pharma Q2 net profit up 30% on back of strong domestic biz, 57% exports jump