Manappuram Finance Ltd stock rose 5.5% in early trade on Thursday after the Reserve Bank of India (RBI) lifted restrictions on its microfinance arm, Asirvad Micro Finance Ltd (AMFL), with immediate effect. However, the excitement fizzled out with the stock ending flat at nearly ₹179.
The removal of this ban is positive, but the share of this business in Manappuram's earnings is relatively small, accounting for just 15% of consolidated profit before tax (PBT) and 24% of consolidated assets under management (AUM) in H1FY25. AMFL's AUM growth was just 8% year-on-year in H1 on a much lower base compared to 17% of other loans even before the RBI ban.
This story is from the January 10, 2025 edition of Mint Ahmedabad.
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This story is from the January 10, 2025 edition of Mint Ahmedabad.
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