MAS Financial rises on incorporating subsidiary for insurance activities

5 Sep 2022 , 02:27 PM

MAS Fin lnsurance Broking is incorporated to carry out insurance activities and other allied activities as permitted by lnsurance Regulatory and Development Authority. MAS Financial Services incorporated MAS Fin lnsurance Broking by subscribing to its 3,45,000 equity shares of Rs 10 each aggregating to Rs 34.50 lakh, which adds up to 69% of the share capital of the incorporated entity. MAS Financial Services is a Gujarat-headquartered NBFC with more than two decades of business operations. The companys business and financing products are primarily focused on middle and lower income customer segments spread across urban, semi urban and rural areas, and including formal and informal sector. The NBFC reported a 25.5% rise in consolidated net profit to Rs 45.95 crore on a 31.4% increase in total income to Rs 205.70 crore in Q1 FY23 over Q1 FY22. Powered by Capital Market – Live News