In response, Manappuram Finance issued a statement to the bourses confirming the search and stating that they are cooperating fully with the investigation. The company has promised to provide more information once the search is completed.
Manappuram Finance is one of India's leading gold loan NBFCs. The NBFC's consolidated net profit soared 50.3% to Rs 392.17 crore on 15.1% rise in total income to Rs 1,734.52 crore in Q3 FY23 over Q3 FY22.
