Manappuram Finance Q2 results 2026: profit up 222.7%
Manappuram Finance, a gold loan non-banking finance company (NBFC), reported consolidated profit of Rs 701.25 crore for July to September 2026, against Rs 217.31 crore a year earlier.
Published 13 November 2026 · Potoos Research Services
The short answer. Consolidated profit rose 222.7% and revenue from operations rose 47.8% to Rs 3,361.55 crore. Most of the jump came from the microfinance business turning from a loss to a profit and from higher gold loan profit. The board declared an interim dividend of Re 1 per share with a record date of Wednesday 18 November 2026.
Quarter at a glance
Consolidated figures in Rs crore. Change compares the same quarter a year earlier.
| Measure | Jul-Sep 2026 | Jul-Sep 2025 | Change |
|---|---|---|---|
| Interest income | 3,339.06 | 2,229.26 | +49.78% |
| Total revenue from operations | 3,361.55 | 2,274.53 | +47.79% |
| Finance costs | 1,380.32 | 875.63 | +57.64% |
| Impairment on financial instruments | 294.15 | 381.43 | -22.88% |
| Profit before tax | 937.59 | 302.00 | +210.46% |
| Profit for the period | 701.25 | 217.31 | +222.70% |
Source: Manappuram consolidated financial results, PDF page 13. Percentages are recomputed from the filing figures before rounding.
Interest income is the interest borrowers pay on loans. Finance costs are the interest the company pays on its own borrowings. Impairment on financial instruments is the amount set aside for loans that may not be repaid. Consolidated means Manappuram plus its subsidiaries, including Asirvad Micro Finance. Of the Rs 701.25 crore profit, Rs 700.99 crore belongs to Manappuram's own shareholders and Rs 0.26 crore to outside shareholders in subsidiaries.
Why did profit more than triple?
The segment table shows where it came from. The microfinance segment made a profit before tax of Rs 43.00 crore, against a loss of Rs 214.82 crore a year earlier. That swing alone is Rs 257.82 crore. The gold loan and others segment's profit before tax rose 73.1% to Rs 894.59 crore, on segment revenue up 53.6% to Rs 3,042.62 crore. The amount set aside for bad loans also fell 22.9% to Rs 294.15 crore. Source: segment table, PDF page 14.
The company's press release adds that gold loan assets under management (AUM, the total loans it manages) stood at Rs 60,640 crore, up 92.5% from a year earlier. It also says Asirvad reported a profit of Rs 32 crore for the quarter. Source: Manappuram press release, 12 November 2026, PDF page 2.
Some figures in the press release are rounded or measured differently from the results table. The release gives revenue of Rs 3,356 crore against Rs 2,296 crore and a profit rise of 222.90%. The results table shows Rs 3,361.55 crore against Rs 2,274.53 crore, and our recomputed profit rise is 222.70%. This page uses the results table.
The Re 1 dividend: dates that matter
The board declared an interim dividend of Re 1 per equity share of face value Rs 2, which is 50% of face value. Note 15 says this is the second interim dividend for 2026-27; a first interim dividend of Re 1 was declared on 11 August 2026 and has been paid. The record date is Wednesday 18 November 2026. The record date is the day the company checks who its shareholders are; those on the list at the end of business hours that day get the dividend. The outcome letter does not give a payment date. When we checked NSE's corporate actions list on 12 November 2026, it did not yet show an ex-date for this dividend, so we do not give one here.
What else did the filing disclose?
Note 11 recalls that on 27 March 2026 the company received Rs 2,192.47 crore from BC Asia Investments XXV Limited for 9,29,01,373 equity shares at Rs 236 each, giving that investor a 9.89% holding, plus Rs 548.11 crore from BC Asia Investments XIV Limited as 25% of the price of 9,29,01,373 share warrants. A warrant is a right to get shares later; the balance is due when the warrants are converted. The outcome letter includes a statement that there was no deviation in how this preferential issue money was used in the September quarter.
Note 9 says the company put Rs 788.43 crore into a rights issue of Asirvad Micro Finance at Rs 44 per share, allotted on 10 April 2026, taking its holding to 98.97%. Note 6, on the security cover for listed debentures, says Asirvad has not complied with certain covenants (conditions agreed with its lenders) related to PAR 90 and return on equity as on 30 September 2026. PAR 90 is the share of loans overdue by more than 90 days.
The board approved no bonus, split, share repurchase or new fund raise in this outcome. The other enclosures are routine statements on the use of money raised through debentures (NCDs), security cover and commercial paper.
What the auditor said
The joint statutory auditors, Chokshi & Chokshi LLP and KKC & Associates LLP, issued limited review reports with an unmodified conclusion. A limited review is a lighter check than a full audit. For the consolidated results, they note that four subsidiaries were reviewed by other auditors and say their conclusion is not modified for this. Source: review report on consolidated results, PDF pages 11 and 12.
Sources
- Manappuram Finance outcome of board meeting and unaudited results for the quarter ended 30 September 2026. 12 November 2026. PDF pages 1 and 2, outcome letter and dividend; pages 11 and 12, review report; page 13, consolidated results; page 14, segment table; pages 17 and 18, notes 6, 9, 11, 15 and 17; pages 25 and 26, statement on use of preferential issue proceeds.
- Manappuram Finance press release on Q2 FY27 results. 12 November 2026. PDF page 2.
- NSE corporate actions list, checked 12 November 2026, for an ex-date.
Sources checked on 12 November 2026. Information cutoff: 12 November 2026, 21:00 IST
Common questions
Is Rs 701.25 crore the consolidated profit?
Yes. It is consolidated profit for the quarter. Rs 700.99 crore of it belongs to Manappuram's own shareholders.
What is the record date for Manappuram's Re 1 dividend?
Wednesday 18 November 2026. The outcome letter does not give a payment date.
Why do the press release numbers differ from this page?
The press release rounds and measures some figures differently. This page uses the results table filed with the exchanges.
Potoos Research, SEBI-registered Research Analyst. Registration number INH000027380. SEBI is the Securities and Exchange Board of India.