Muthoot Finance is trading lower by 2% at Rs 93.55, falling 15% from intra day’s high, after reporting a 21% year-on-year (yoy) decline in net profit at Rs 194 crore for the quarter ended June 30, 2013, due to lower operational income. The finance company had profit of Rs 246 crore in year ago quarter.
Net interest income (interest income minus interest expense) declined by 6.3% yoy at Rs 554 crore.
The stock opened at Rs 95.60 and hit a high of Rs 104 on NSE. The counter has seen huge trading activity with a combined 4.83 million shares changing hands till 1344 hours against an average sub one million shares that were traded daily in past two weeks on NSE and BSE.
Net interest income (interest income minus interest expense) declined by 6.3% yoy at Rs 554 crore.
The stock opened at Rs 95.60 and hit a high of Rs 104 on NSE. The counter has seen huge trading activity with a combined 4.83 million shares changing hands till 1344 hours against an average sub one million shares that were traded daily in past two weeks on NSE and BSE.
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