Latest news about Manipal Finance
Manipal Finance Corporation Reports Q1 Loss, Announces Board Changes Aug 12, 2025
Manipal Finance Corporation Ltd. (MFCL) reported a net loss of Rs 9.85 crore for Q1 ended June 30, 2025, with total income of Rs 1.44 crore. The company announced board restructuring, including the appointment of Ms. Vinoda Chandappa Sherigar as Non-Executive Non-Independent Director and Mr. H Mohandas as Independent Director. MFCL's 42nd AGM is scheduled for September 26, 2025. Auditors raised concerns about the company's ability to continue as a going concern, citing accumulated losses and non-performing assets. Management remains hopeful of recovering dues and maintains a 'going concern' basis for accounts.