Gilded Strain: Manappuram’s Tight Quarter

Manappuram reported a tough quarter: Net profit fell sharply to ≈ ₹138 crore (down ~75% year-on-year). The hit came mainly from big jump in provisions at its microfinance arm — the company set aside much more money for bad loans. Gold-loan business stayed resilient (higher revenue) but overall lending book and interest income dipped a little. Big picture: strong gold business, trouble in microfinance — watch provisions and collection trends next quarter. One-line takeaway: solid gold-loan core, but microfinance stress cut through profits — recovery depends on easing provisions and steady collections.