Indostar Capital Finance hit an upper circuit of 5% to Rs 144.10 after the company's board approved the appointment of Vinod Kumar Panicker as the chief financial officer with effect from 26 December 2022.
Vinod Kumar Panicker is a qualified chartered accountant and has over 32 years of rich experience in handling finance & accounts, legal & secretarial, investor relationship & analysts, fund raising, systems, strategy, with in-depth knowledge of the NBFC sector. Prior to joining Indostar Capital Finance, he was associated with Muthoot Capital Services (Muthoot Pappachan Group) as CFO for the past 9 years.He has also held various positions with organizations like Asianet Satellite Communications, Cadbury Schweppes Beverages India & Schweppes Beverage Division, The Coca Cola Bottling Co. of Saudi Arabia, Herdillia Unimers.
Indostar Capital Finance is registered with the Reserve Bank of India (RBI) as a systemically important non-deposit taking non-banking financial company (NBFC-ND-SI). The company is primarily engaged in lending business.
The company's consolidated net profit jumped 30.8% to Rs 51.60 crore on 3.5% rise in net sales to Rs 294.51 crore in Q2 FY23 over Q2 FY22.
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