Manappuram Finance posts surprise Q2 net profit growth on gold loan boost
Tue, Nov 5, 2024 5:53 PM

Manappuram Finance posts surprise Q2 net profit growth on gold loan boost

A Flip by Avya Verma
Get it on Google Play
Manappuram Finance reported an unexpected growth in second-quarter profit on November 5, as strong performance in its mainstay gold loan segment offset higher provisions. The gold loan financier's consolidated net profit rose 2% from last year to Rs 571 crore for the three months ended September 30.Analysts were expecting a profit of Rs 531 crore as per data compiled by LSEG, a decline of 4.8%.

More great flips

Embassy REIT CEO Arvind Maiya to step down following SEBI orders

Embassy REIT CEO Arvind Maiya to step down following SEBI orders

Aravind Maiya, the CEO of Embassy Office Parks Management Services that manages Embassy REIT, will step down from his post following market regulator Sebi's direction to suspend him and appoint an interim CEO immediately. Sebi's direction follows a National Financial Reporting Authority (NFRA) order that barred Maiya for 10 years from undertaking any audit in respect of financial statements.

Open Flip
US stocks open higher as Americans head to polls

US stocks open higher as Americans head to polls

U.S. stock indexes opened higher on Tuesday, as voting began in a tightly contested presidential election, with traders girding up for volatile trading over the next few sessions until a winner is declared. The Dow Jones Industrial Average rose 40.9 points, or 0.10%, at the open to 41835.49. The S&P 500 rose 9.7 points, or 0.17%, at the open to 5722.43, while the Nasdaq Composite rose 70.7 points.

Open Flip
Statistics ministry revises time for inflation and industrial production

Statistics ministry revises time for inflation and industrial production

The Ministry of Statistics and Programme Implementation has revised the time for consumer inflation and industrial production data releases to 04:00 PM from 05:30 PM. “To provide more time on the day of release to access CPI & IIP data, the Ministry of Statistics and Programme Implementation (MOSPI) has decided to revise the release time for the Consumer Price Index (CPI).

Open Flip

Join our Smart Investment Community

More than 2 Million users are using FlipItMoney to stay updated about the business and finance world! Join FlipItMoney now and take smart investment decisions!
Icon