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Magma Fincorp Ltd has posted an eight per cent drop in net profit at Rs 16 crore for the quarter ended June 30, 2011 against Rs 18 crore during the corresponding period last year. Total income grew 23 per cent to Rs 220 crore (Rs 179 crore).
The company shares fell 6.55 per cent to close at Rs 73.50 on the BSE today.
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