Manappuram stock plunges 10% on poor Q3 numbers

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Manappuram plunges 10% on poor Q3 numbers
Manappuram Finance: Quotes, News
BSE 99.80BSE Quote2.6 (2.61%)
NSE 99.90NSE Quote2.7 (2.70%)
Shares of the Manappuram Finance fell more than 10% after the company reported weak third quarter numbers on Wednesday after market hours.

The Company's net profit was down at Rs 84.4 crore against Rs 161.4 crore, year-on-year, (YoY).

Its net interest income (NII) was lower at Rs 277.14 crore against Rs 424 crore, YoY.

Manappuram Finance, in a separate BSE filing said that, Credit Rating Agency CRISIL has assigned a "CRISIL A+/Stable" {pronounced as "CRISIL A plus rating with stable oullook") rating for Non-Convertible Debenture Issue programme of the Company up to Rs. 4 Billion.

The instruments with this rating are considered to have adequate degree of safety regarding timely servicing of financial obligations. Also, such instruments carry low Credit Risk.

However, shares of the other gold loan companies were seen lower as as RBI panel proposed to curb on gold imports.

Shares of the BBFC was seen trading at Rs 38.05, lower by 10.79% on BSE at 12.40 pm IST. It touched an intra-day low of Rs 37.00.

Read more about: manappuram, gold
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