IFCI, a provider of primary financial
consultancy services in India, fell on Monday after it has posted
weak Q2 earnings.
The company posted a fall of 33.92% in net profit to Rs 1.31 billion for the quarter ended September 30, 2012 as compared to Rs 1.98 billion for the quarter ended September 30, 2011.
The company's profit was impacted due to lower revenues and higher cost of borrowing. A onetime write-off of Rs 243.8 million has also impacted the bottom line. Total income has decreased by 5.67% from Rs 7.37 billion for the quarter ended September 30, 2011 to Rs 6.95 billion for the quarter ended September 30, 2012.
Shares ofthe companyare trading at Rs
29.55, down Rs 0.35, or 1.17% at the Bombay Stock Exchange (BSE) on
Monday at 10:19 a.m.The scrip has touched an intra-day high of Rs
29.70 and low of Rs 29.15. The total volume of shares traded at the
BSE is 442,640.In the earlier session, the shares declined 1.81%,
or Rs 0.55, at Rs 29.90. Currently, the stock is trading down
40.18% from its 52-week high of Rs 49.40 and above 50.38% over the
52-week low of Rs 19.65.
Comments(1)
The impact on the result appears to be the allotment for 40 crore shares to Government of India.
Posted by R.K.AGRAWAL at 10/23/2012 15:21 Reply to this Report abuse