In-line earnings; NIM expansion aided by higher yields

11 Mar 2024
5 Min read 
  • Manappuram Finance's 3QFY24 results were in line with expectations.
  •  Net interest margin (NIM) expanded due to higher yields.
  •  Asset quality deteriorated in non-gold segments.
  •  Gold loan assets under management (AUM) remained flat QoQ.
  •  The company expects a recovery in gold loan growth in 4Q.
  •  Valuations are favorable with a potential for re-rating.
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