Mahalaxmi Finance holds 20th AGM

Mahalaxmi Finance Ltd organized its 20th annual general meeting on Friday. Issuing a statement, the finance company said that the AGM approved the proposal of the company's board of directors to distribute 15 percent bonus shares and 0.79 percent cash dividend (for tax purpose) to its shareholders. Presenting the annual report for Fiscal Year 2014/15, chairman Babulal Agrawal said that the finance company was able to earn net profit of Rs 85.6 million in the last fiscal year despite various challenges seen in the financial sector, the statement added.