BC Asia just dropped ₹4,384 crore on Manappuram - here's what this gold loan bet means
Key Points
- BC Asia Investments bets ₹4,384 crore on struggling Manappur...
When someone drops ₹4,384 crore on a company whose profits just fell from ₹557 crore to ₹132 crore, you know there's either a brilliant strategy at play or someone's about to learn an expensive lesson. BC Asia Investments just became co-promoter of Manappuram Finance, betting big on a gold loan company that's been having anything but a golden quarter.
The Not-So-Midas Touch
Manappuram Finance's recent numbers read like a masterclass in how to turn gold into lead. Revenue dropped 9.08% to ₹2,262 crore, while net profit took a nosedive that would make a cliff diver jealous. The culprit? Th...
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