Tuesday , 25 September 2018
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ECONOMIC SCAN

The Muthoot Group flags from Mount Everest

PANAJI: The Muthoot Group, one of India’s leading business conglomerates, proudly waved its flag on Mount Everest, world’s highest mountain above sea level. The expedition was led by famous mountaineer and expedition leader, Philip James Crampton, along with his group of 5 members and 6 sherpas. The flag carried the message “Always On top of the World”.Alexander George Muthoot, deputy managing director, The Muthoot Group said, “It is a moment of sheer pride for us to have our flag on Mount Everest. We are on top of the world, quite literally!” NT

Shriram City reports 15% rise in Q1FY19 profit

MUMBAI: One of the leading small business financier Shriram City Union Finance Limited (Shriram City) has declared its results for the first quarter of financial year 2019. Standalone net profit for the year based on Indian Accounting Standards (“IND AS”) was at Rs 230 crore for the quarter, higher by 15%. Assets Under Management, at Rs 29,193 crore were up 20.50%. R Duruvasan, MD and CEO, Shriram City said, “We are pleased to report a healthy First Quarter, a period that is usually represented by somewhat slower growth. We are also seeing a gradual improvement in asset quality, in line with our guidance.

 

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