Manappuram Finance posted a consolidated net profit of 2.2 billion rupees for Q2 FY26, below IBES estimates of 2.91 billion rupees, even as interest income rose to 22.51 billion rupees. The weaker-than-expected bottom line suggests margin pressure and higher costs despite resilient asset growth across its lending portfolio.
Manappuram Finance, one of India’s leading non-banking financial companies specializing in gold and microfinance lending, reported subdued earnings for the September 2025 quarter. The company’s consolidated net profit fell short of market expectations, even as it registered healthy growth in its overall income.
Interest income climbed to 22.51 billion rupees, underscoring strong business traction in its gold loan and micro-lending operations. However, elevated funding costs and credit provisions weighed on profitability, leading to a miss against IBES forecasts.
Analysts remain watchful of the company’s efforts to diversify its portfolio amid a competitive NBFC landscape and rising borrowing costs that have pressured margins across the sector.
Key Highlights:
-
Q2 FY26 consolidated net profit: 2.2 billion rupees vs. IBES estimate of 2.91 billion rupees
-
Consolidated interest income: 22.51 billion rupees
-
Profit miss attributed to higher costs and provisioning
-
Gold loan and microfinance segments continued to support overall income growth
-
Market participants await management commentary on cost control and asset quality
Sources: NSE filing, IBES data, Reuters, company financial release