SMFG India's FY24 profit takes a hit on high operating expenses

SMFG India Credit Company’s net profit has taken a hit during the financial year ended 2024 as the non-bank lender witnessed a rise in operating expenses. The company’s consolidated net profit fell 6% year-on-year (y-o-y) to Rs 670 crore in the year under review as the company incurred higher volume-related costs ......