Shares of Manappuram Finance on Tuesday dropped as much as 14 per cent after the company reported a nearly 46 per cent decline in consolidated net profit at Rs 261 crore for the quarter ended December 2021.
On BSE, the shares fell 14.68 per cent to its 52-week low value of Rs 122. On NSE, the shares were trading at its 52-week low value of Rs 123.75, sliding 13.4 per cent over the previous close.
The non-banking finance company (NBFC) had posted a net profit of Rs 483 crore in the corresponding quarter a year ago. Total income during the October-December period of 2021-22 was down at Rs 1,506.85 crore, as against Rs 1,650 crore in the same period of 2020-21, Manappuram Finance said in a regulatory filing on Monday.
Just one email a week