Manappuram Finance slips 10%, hits 52-week low on weak Q3 results

The company reported 46 per cent year-on-year drop in its consolidated net profit at Rs 261 crore in December quarter (Q3FY22)

Shares of Manappuram Finance hit 52-week low of Rs 128.70 after they slipped 10 per cent on the BSE in Tuesday's intra-day trade after the financier reported 46 per cent year-on-year (YoY) drop in consolidated net profit at Rs 261 crore in December quarter (Q3FY22), due to weak operational performance. Net interest income (NII) fell 12 per cent YoY to Rs 915 crore driven by a sharp compression in spreads.

The stock of the gold finance company has fallen below its previous low of Rs 139, touched on April 22, 2021. In the past three months, it has underperformed