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Manappuram Finance posts good profits

Special Correspondent

Plans to enter share broking business soon


  • Net profit registers an increase of 56 per cent
  • To announce an innovative loan-cum-investment product

    Kochi: Manappuram General Finance and Leasing Limited, the flagship company of Manappuram group headquartered at Valappad in Thrissur, has made good show in the first half of this financial year.

    The audited figures for the period ended September 30, 2005 show that the company has posted an after tax profit of Rs.172.69 lakhs.

    P. Manomohanan, senior director said here that the net profit registered an increase of over 56 per cent compared to the position as on September 30, 2004. The PBT rose to Rs.264.47 lakhs, recording an increase of over 49 per cent over the corresponding period during the previous year. The income from operations of the company rose to Rs.908.55 lakhs during the first half of the current fiscal and showed an increase of Rs.169.56 lakhs compared to the first half of 2004-05. Earnings per share rose to Rs.3.23 recording an increase of 31 per cent over the corresponding period last year.

    According to company sources this was mainly on account of the expansion and diversification of the activities of the company. The paid up capital of the company was enhanced to Rs.750 lakhs as at the end of September 2005, including Rs.200 lakhs of preference share capital.

    Answering a query, Mr. Manomohanan said the company would soon announce an innovative loan-cum-investment product.

    The company has also plans to enter the share broking business in a major way.

    The thrust now is on geographical expansion and functional diversification. Stronger presence in metros would be another step to make it a national player with full-fledged financial super market activities.

    Recently, the company has been granted a line of credit of Rs.25 crores by ICICI Bank by way of securitisation.

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