Manappuram posts Rs 203 crore loss on Asirvad stress, names new CEO
The Manappuram Finance group, in which Bain Capital is set to buy a 42% stake, has suffered a Rs 203 crore consolidated loss for the fourth quarter on account of its subsidiary Asirvad Micro Finance, which is reeling under severe asset quality stress. The Manappuram group earned a Rs 564 crore net profit in the … Read more