Manappuram Finance Ltd.

 Manappuram Finance has reported results for its first quarter ended June 30, 2011.

The company’s net profit for the quarter has zoomed by 133.65% at Rs 107.83 crore as compared to Rs 46.15 crore for the same quarter last year. Its total income soared by 164.17% to Rs 493.49 crore for the quarter under review from Rs 186.81 crore for the corresponding quarter of the previous year.

Manappuram Finance (earlier known as Manappuram General Finance and Leasing) is one of the largest gold loan companies in India (operating from Valapad, Kerala) with assets under management of Rs 7,482 crore as on March 31, 2011. The company operates through 1,795 branches spread across 19 states of India (as of December 31, 2010). Gold loans account for more than 99% of its business.