Manappuram Finance Ltd Q2 profit rises 223% to ₹701 crore

Manappuram Finance Limited reported consolidated net profit of ₹701 crore in Q2FY27, up 222.90% year on year from ₹217 crore, as gold-loan assets under management reached ₹60,640 crore on September 30, 2026 and consolidated AUM increased 60.1% to ₹73,303 crore.

How did Manappuram Finance Ltd's Q2FY27 profit and revenue change?

Manappuram Finance Ltd's consolidated net profit rose to ₹701 crore in Q2FY27 from ₹217 crore in Q2FY26, an increase of 222.90% year on year. Consolidated revenue from operations increased 46.2% to ₹3,356 crore from ₹2,296 crore in the same period, meaning the reported profit growth rate exceeded the revenue growth rate for the quarter ended September 30, 2026.

The half-year comparison also showed higher profit and revenue. Consolidated net profit for H1FY27 was ₹1,286 crore, compared with ₹350 crore in H1FY26, while revenue from operations rose to ₹6,403 crore from ₹4,546 crore. Q2FY27 profit of ₹701 crore accounted for more than half of the ₹1,286 crore reported for H1FY27.

What changed in Manappuram Finance Ltd's AUM mix?

Manappuram Finance Ltd reported consolidated assets under management, or AUM, of ₹73,303 crore as of September 30, 2026, up 60.1% year on year. Its gold-loan AUM was ₹60,640 crore, up 92.5% year on year, a faster rate than the increase in the consolidated book.

Non-gold-loan businesses accounted for 17.27% of consolidated AUM on September 30, 2026. Gold loans therefore remained the larger disclosed component of the ₹73,303 crore portfolio, while the difference between 92.5% gold-loan AUM growth and 60.1% consolidated AUM growth indicates that the gold-loan book expanded faster than the total managed-assets base.

The announcement did not provide a prior-year consolidated AUM amount or individual AUM figures for every non-gold business. It did, however, disclose the current portfolio composition alongside the ₹60,640 crore gold-loan book, enabling a comparison between the 17.27% non-gold share and the larger gold-loan portion as of September 30, 2026.

What do Manappuram Finance Ltd's gold volumes and customer data show?

Manappuram Finance Ltd reported gold tonnage of 70 tonnes in Q2FY27, up 22% year on year and 3.5% sequentially. The sequential movement compares with the immediately preceding quarter, while the annual growth compares with Q2FY26.

The customer base rose 2.3% sequentially to 46.9 lakh customers during the quarter under consideration. The company reported this increase alongside the 70-tonne gold volume and ₹60,640 crore gold-loan AUM, providing three operating measures for the core gold-loan business in Q2FY27.

The disclosed measures changed at different rates. Gold tonnage increased 3.5% sequentially, while customers rose 2.3% sequentially, but the release did not provide the preceding-quarter customer total or gold-loan AUM total. It also did not disclose average loan size, loan-to-value ratio or customer-level borrowing data for the 46.9 lakh customer base.

How did Asirvad Micro Finance Ltd perform in Q2FY27?

Asirvad Micro Finance Ltd reported a Q2FY27 profit of ₹32 crore and AUM of ₹7,919 crore as of September 30, 2026. The microfinance subsidiary was the only subsidiary for which the announcement gave both a quarterly profit figure and a September-end AUM figure.

Manappuram Finance Ltd's chairman and managing director said subsidiaries had shown improved performance year on year. However, the release did not state Asirvad's Q2FY26 profit, its previous-year AUM, or a growth percentage for its ₹7,919 crore portfolio, so the extent of its reported year-on-year improvement cannot be quantified from this announcement.

Asirvad's ₹7,919 crore AUM should also be viewed separately from the group-level business-mix disclosure. Manappuram Finance Ltd said non-gold businesses collectively made up 17.27% of ₹73,303 crore consolidated AUM, but did not provide a complete business-by-business reconciliation within that non-gold category.

What did Manappuram Finance Ltd's board and management say about FY27?

Manappuram Finance Ltd's board declared an interim dividend of Rs 1 per equity share for FY27. The filing states that each equity share has a face value of Rs 2, and the company disclosed the dividend with its unaudited results for the quarter and half-year ended September 30, 2026.

The consolidated branch network stood at 5,375 as of September 30, 2026. This figure was reported alongside consolidated AUM of ₹73,303 crore and a customer base of 46.9 lakh, although the announcement did not provide comparative branch counts for Q2FY26 or the preceding quarter.

Chairman and Managing Director V.P. Nandakumar said management considered the outlook for the gold-loan business positive and was continuing to strengthen the business to navigate future challenges. He also said management was confident of achieving its FY27 targets, but the release did not specify numerical targets for profit, AUM, revenue, branch additions, gold tonnage or customers.

Conclusion

Manappuram Finance Ltd's Q2FY27 result combined a rise in consolidated profit from ₹217 crore to ₹701 crore with a 46.2% increase in revenue from operations to ₹3,356 crore. The most rapidly growing disclosed operating measure was gold-loan AUM, which rose 92.5% to ₹60,640 crore, compared with 60.1% growth in consolidated AUM to ₹73,303 crore.

The next updates should show whether the company advances toward management's undisclosed FY27 targets while sustaining growth in its gold-loan book, 70-tonne gold volume and 46.9 lakh customer base. Investors can also watch subsequent disclosure on Asirvad after its Q2FY27 profit of ₹32 crore and AUM of ₹7,919 crore, as well as any further information on the Rs 1 interim dividend.