Finance

Half of U.S. states now offer personal finance classes for high school students

Published

2 months ago

March 4, 2024

Half of U.S. states now offer personal finance classes for high school students

(Gray News) – Half of U.S. states now offer standalone personal finance courses for high school students.

In December, Pennsylvania passed an education policy bill to become the 25th state to guarantee a personal finance course for high schoolers.

Senator Chris Gebhard (R-48) sponsored the original bill.

“An alarming number of our high school students are currently entering adulthood and the workforce without an appropriate knowledge of basic financial concepts,” Gebhard said in a statement. “I want them to have the best foundation possible as they start their own lives.”

The bill was supported by policymakers on both sides of the aisle, and it also garnered support from parents, business groups, nonprofit organizations, and educators from across the state.

Pennsylvania’s personal finance course requirement will begin with the 2026-2027 school year and will cover topics such as budgeting, saving, credit management, investing, and understanding loans and interest rates.

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Finance

M&M Finance’s Q4 Results: Net profit declines; ₹6.30 per share dividend declared

Published

6 hours ago

May 5, 2024

Press Room

M&M Finance’s Q4 Results: Net profit declines; ₹6.30 per share dividend declared

Mahindra Finance reported a total income of ₹3,706 crores, marking a 21 per cent increase year-over-year (YoY), for the quarter ending March 31, 2024, on May 4. However, the Profit After Tax (PAT) experienced a slight downturn by 10 per cent YoY, settling at ₹619 crores, attributed to a 14% increase in Net Interest Income (NII) which stood at ₹1,971 crores. The Net Interest Margin (NIM) remained fairly stable at 7.1%. The reported disbursements for the quarter saw an 11% rise, totalling ₹15,292 crores, and the Gross Loan Book grew by an impressive 24% YoY to ₹1,02,597 crores.

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The company also showed marked improvement in asset quality, with a significant reduction in Stage 3 assets to 3.4%, down from 4.0% in December 2023. Credit costs for the year were maintained within the targeted range of 1.5% – 1.7%, indicative of effective risk management strategies.

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In its consolidated results, the company posted a total income of ₹4,333 crores for the fourth quarter, up by 23% YoY, and a marginal decrease in PAT by 1%, amounting to ₹671 crores. The consolidated disbursements also noted an increase of 11% YoY, reaching ₹16,174 crores.

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The company’s strategic initiatives included bolstering its presence in vehicle finance, particularly in pre-owned vehicle finance, which grew by 18% during FY24. Moreover, Mahindra Finance announced plans to enhance its services in the non-vehicle finance segment, aiming to expand its Asset Under Management (AUM) to 15% over the medium term. This includes increasing investments in sectors such as Small and Medium Enterprises (SME) lending, Lease and Purchase (LAP), and leasing through its Quiklyz platform.

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Published: 05 May 2024, 09:46 AM IST

Finance

Transwarranty Finance Q4 results : profit at ₹2.73Cr, Revenue increased by 166.66% YoY

Published

13 hours ago

May 4, 2024

Press Room

Transwarranty Finance Q4 results : profit at ₹2.73Cr, Revenue increased by 166.66% YoY

Transwarranty Finance Q4 Results Live : Transwarranty Finance declared their Q4 results on 02 May, 2024. The topline increased by 166.66% & the profit came at ₹2.73cr.

It is noteworthy that Transwarranty Finance had declared a loss of ₹6cr in the previous fiscal year in the same period.

As compared to the previous quarter, the revenue grew by 68.98%.

The Selling, general & administrative expenses rose by 12.53% q-o-q & increased by 13.69% Y-o-Y.

The operating income was up by 7726.27% q-o-q & increased by 154.53% Y-o-Y.

The EPS is ₹0.98 for Q4, which increased by 148.87% Y-o-Y.

Transwarranty Finance has delivered 0% return in the last 1 week, 24.19% return in the last 6 months, and -6.85% YTD return.

Currently, Transwarranty Finance has a market cap of ₹56.46 Cr and 52wk high/low of ₹15.5 & ₹8.25 respectively.

Transwarranty Finance Financials

Period	Q4	Q3	Q-o-Q Growth	Q4	Y-o-Y Growth
Total Revenue	5.12	3.03	+68.98%	1.92	+166.66%
Selling/ General/ Admin Expenses Total	1.16	1.03	+12.53%	1.02	+13.69%
Depreciation/ Amortization	0.13	0.12	+9.2%	0.12	+1.13%
Total Operating Expense	2.42	3.07	-21%	6.87	-64.74%
Operating Income	2.7	-0.04	+7726.27%	-4.95	+154.53%
Net Income Before Taxes	2.73	-0.36	+862.66%	-6.01	+145.33%
Net Income	2.73	-0.36	+863.53%	-6	+145.44%
Diluted Normalized EPS	0.98	-0.07	+1500%	-2.01	+148.87%

FAQs

Question : What is the Q4 profit/Loss as per company?

Ans : ₹2.73Cr

Question : What is Q4 revenue?

Ans : ₹5.12Cr

Stay updated on quarterly results with our results calendar

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Published: 05 May 2024, 02:36 AM IST

Finance

New Interim Finance Director Deal in the Works | South Pasadena Finance Dept. Pushing Through | The South Pasadenan | South Pasadena News

Published

20 hours ago

May 4, 2024

Press Room

New Interim Finance Director Deal in the Works | South Pasadena Finance Dept. Pushing Through | The South Pasadenan | South Pasadena News

Scott Miller, a retired municipal finance official with four decades in the field, is being considered to serve as South Pasadena’s new finance director on an interim basis, the South Pasadenan News has learned.

Although an agreement has not been signed or finalized, “we are working on it,” said Luis Frausto, Acting Deputy City Manager.

Miller would become the tenth person to manage the city’s volatile finance department since the departure of David Batt in March of 2018.

CITY OF SOUTH PASADENA FINANCE DEPARTMENT PAST DIRECTORS

The administrative instability of the South Pasadena Finance Department began with the March 2018 departure of David Batt, who died later that year. He had previously served as Assistant Finance Director and Interim Finance Director as far back as 2007. Since his retirement, nine others have led the department under various titles. This chart was compiled using online City Council and Finance Commission agenda.

The news comes shortly after the city confirmed outgoing Finance Director John Downs, who told the city last month he would retire May 2, has been persuaded to stay on “in a limited term capacity to assist with finalizing the fiscal year 2024-2025 budget,” Frausto said. Downs’ “role will transition from managing daily finance operations to focusing on specific projects, with the budget being his primary responsibility. We expect his contributions to extend at least through June.”

The city is currently scheduled to adopt the new budget June 5—a target that is looking increasingly less certain.

According to press reports, Miller was chief financial officer at the city of Beverly Hills for seven years through 2015, where he was credited with helping secure high ratings for the city from the three major credit rating agencies.

Miller then worked briefly as chief finance officer for Broward County, Florida and then with Urban Futures Inc., a local government service agency in California. In March 2016, he became interim chief financial officer for the city of Riverside, initially under a short term contract. Although he became a Riverside employee in early 2017, he left several months later. At the time, a Riverside city spokesman told a local publication he could not say if Miller’s departure from Riverside was a mutual decision.

Prior to joining Beverly Hills, Miller was employed by the city of Palm Desert, the city and county of San Francisco, the University of California–Berkeley and Turner Broadcasting System. He graduated from San Diego State University with a BA in psychology and minor in business administration and he holds a PhD in public administration from Arizona State University.