Manappuram Finance shares erased their early gains despite a 41 per cent year-on-year (y-o-y) jump in first-quarter standalone net profit to ₹552 crore. The stock opened 2.7 per cent higher at ₹369.95 on the NSE before declining to ₹353.35 at the time of writing. Also readJefferies said Manappuram’s Q1 profit after tax (PAT) was 15 per cent above its estimate, led by better net interest income and lower provisions. Jefferies said healthy customer additions and branch expansions should drive 19 per cent growth in consolidated AUM in FY27. The brokerage said net interest margins improved from Q4 lows and should stabilise, while credit costs should moderate in FY27.