Manappuram Finance tumbles after weak Q1 results

Manappuram Finance fell 7.39% to Rs 86.45 at 11:17 IST on BSE after consolidated net profit fell 3.22% to Rs 155.17 crore on 11.35% increase in net sales to Rs 830.82 crore in Q1 June 2017 over Q1 June 2016.

The result was announced after market hours yesterday, 10 August 2017.

Meanwhile, the S&P BSE Sensex was down 199.63 points, or 0.63% to 31,331.70.

On the BSE, 15.16 lakh shares were traded in the counter so far, compared with average daily volumes of 5.36 lakh shares in the past one quarter. The stock had hit a high of Rs 88 and a low of Rs 81.50 so far during the day. The stock hit a record high of Rs 110.40 on 25 July 2017. The stock hit a 52-week low of Rs 57.80 on 26 December 2016.

The stock had underperformed the market over the past one month till 10 August 2017, falling 6.70% compared with 0.86% decline in the Sensex. The scrip had also underperformed the market in past one quarter, falling 0.59% as against Sensex's 4.45% rise. The scrip had also underperformed the market in past one year, rising 10.02% as against Sensex's 13.18% rise.

The mid-cap company has equity capital of Rs 168.39 crore. Face value per share is Rs 2.

Manappuram Finance is one of India's leading gold loan non-banking financial companies (NBFCs). It has 3,747 branches across 28 states/Union Territories with assets under management (AUM) of nearly Rs 13014 crore and a workforce of 19,372.

Powered by Capital Market - Live News