Mangal Credit and Fincorp Limited — Important, 10-12-2024: Updates

Mangal Credit and Fincorp Limited has resubmitted its unaudited financial results for the quarter and half-year ended September 30, 2024, as per the request from the National Stock Exchange. The company's total revenue from operations for the half-year was ₹2,352.76 crore, a significant increase from ₹1,508.58 crore in the previous half-year, bolstered by interest income that reached ₹2,273.93 crore. The net profit for this period stood at ₹697.13 crore, compared to ₹509.57 crore year-on-year. The growth in profitability was supported by a rise in total comprehensive income to ₹799.05 crore.

The company reported total assets of ₹31,642.08 crore, with a notable increase in cash and cash equivalents to ₹1,245.52 crore. Financial liabilities increased correspondingly, with borrowings rising to ₹17,065.11 crore. The robust financial performance and assets position indicate a positive outlook, highlighting Mangal Credit's ongoing operational strength. Investors should watch for further developments in capital structure and operational efficiency as the company navigates its growth trajectory.