Comments
Mayank Poddar has stepped down as the Chairman of Magma Fincorp Ltd. Narayan K Seshadri will succeed him as the company’s chairman.
Poddar who was the Founder-Promoter of the company, will now be the Chairman Emeritus.
In yet another decision, VK Viswanathan – who serves on the Board of various companies – was appointed as an additional independent director. He comes in place S Singhvi.
Meanwhile, standalone net profit for the company remained flat at Rs 40 crore for the quarter ending June 2016. During the period under review, the total income from operations (standalone) dipped by approximately 2 per cent to Rs 508 crore (Rs 516 crore).
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.