As we see a significant change in the financial situation of the nation, the individual firms are expected to keep the Indian funds balanced and running smoothly and efficiently, however this cannot be achieved as there is a considerable slowdown in the finances and the sector is crashing and cracking under the pressure of the inadequate financial reforms that the nation’s government has made over the past few years.
Nonbanking financial firms are expected to be doing fine even though the core banking finance firms are failing and seeing a massive drop in popularity. One of the essential nonbanking financial firms in the Indian markets is the name of Manappuram Finance Ltd., which is a Kerala based company. The company has done shockingly right in the previous quarter while other companies were suffering and struggling to stay financially viable. The company reported a rise of 36 percent in its profit after tax (PAT) to Rs. 272.23 crore in the first quarter. Due to these numbers, there is a lot expected from the results of the recent quarter as they can help revive the dying financial sector of the nation of India.
The company has branched into microfinance, housing, and vehicle loans, along with the gold loans that made it popular, which has broadened and widened its horizons, and this has led to it becoming one of the most successful nonbanking financial institutions. Let’s see what the company can do to aid the finances of India.
Tags : financial situation, Manappuram Finance Ltd, vehicle loans, Indian markets,