For Quick Alerts
For Daily Alerts

Manappuram Finance plunges on poor Q4 guidance

Manappuram plunges on poor Q4 guidance
Manappuram Finance: Quotes, News
BSE 124.15BSE Quote5.05 (-4.07%)
NSE 123.15NSE Quote6.1 (-4.95%)
Shares of the Manappuram Finance continued to be under pressure on worries over loan losses, which may impact on the profit numbers in Q4.

The stocks reacted after the company said in the press release that "we expect an under recovery of revenue on certain gold loan port folios due to correction in the gold price. This may result in reduction in profit numbers for the 4th quarter ending March 31, 2013."

The scrip has plunged almost 28.61% over Tuesday and Wednesday.

The Company's net profit in Q3 was down at Rs 84.4 crore against Rs 161.4 crore, year-on-year, (YoY).

Shares of the Manappuram were trading at Rs 23.10 lower by 16.61% on BSE at 2.00 pm IST. It touched an intra-day low of Rs 22.25

Read more about: manappuram
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more