Net profit of Manappuram Finance rose 10.42% to Rs 408.35 crore in the quarter ended September 2022 as against Rs 369.80 crore during the previous quarter ended September 2021. Sales rose 10.73% to Rs 1696.26 crore in the quarter ended September 2022 as against Rs 1531.92 crore during the previous quarter ended September 2021.

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Manappuram Finance announced that the Board of Directors of the Company at its meeting held on 12 November 2022, inter alia, have recommended the interim dividend of Rs 0.75 per equity Share (i.e. 37.5%) , subject to the approval of the shareholders.

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Manappuram Finance will hold a meeting of the Board of Directors of the Company on 12 November 2022.

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The Kerala-based gold NBFC said that it is considering various options for raising funds through borrowings including by the way of issuance of various debt securities in onshore/offshore securities market by public issue, on private placement basis or through issuing commercial papers.

Based on the prevailing market conditions, the NBFC's board may consider and approve issuances of debt securities during the month of November 2022. The proposal is subject to such terms and conditions including the issue price of debt securities, as the board/respective committee may deem fit.

Manappuram Finance is one of India's leading gold loan NBFCs. The NBFC's consolidated net profit tumbled 35.4% to Rs 282.08 crore on 4.5% decline in total income to Rs 1,502.73 crore in Q1 FY23 over Q1 FY22.

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