The Manappuram group earned a Rs 564 crore web revenue within the year-ago interval.
On a standalone foundation, Manappuram nonetheless reported a web revenue of Rs 414 crore for the quarter beneath assessment which was 3.2% down as in contrast with Rs 428 crore earlier. Individually, Asirvad suffered Rs 794 crore loss as in contrast with Rs 138 crore revenue within the 12 months ago-quarter. Within the third quarter too, the microfinance lender reported a lack of Rs 253 crore.
With this, Manappuram, which owns 98% in Asirvad, did not adjust to all of the monetary covenants as talked about within the debenture belief deed, impartial auditor Chokshi & Chokshi LLP mentioned in a be aware. The
The consolidated monetary outcomes of the group embrace the audited monetary outcomes of the holding firm and subsidiaries specifically, Asirvad
Micro Finance, Manappuram Residence Finance, Manappuram lnsurance Brokers and Manappuram Comptech & Consultants.
Manappuram Finance nonetheless declared an interim dividend of Rs 0.50 per fairness share of the face worth of Rs 2 every. The document date for dividend can be Might 15.
The mum or dad firm has determined to infuse Rs 500 crore in fairness of Asirvad.
In the meantime, Manappuram has introduced the appointment of Deepak Reddy as chief govt officer, efficient from August 1, 2025. Consequently, the designation of Nandakumar VP, will change to managing director from MD & CEO from July 31. Reddy at the moment is a Bajaj Finserv govt.
