Manappuram Finance slumps over 14% on weak Q3 results

AgenciesUpdated: Tuesday, February 15, 2022, 01:51 PM IST
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On BSE, the shares of Manappuram Finance fell 14.68 percent to its 52-week low value of Rs 122./ Representative image | File photo

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.

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