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Shares of brokerage firm Indiabulls Securities fell by over 4 per cent in early trade on BSE today after the company’s net profit declined by 43.85 per cent to Rs 37.88 crore for the year ended March 31, 2011.
Hit by the disappointing numbers, the stock went down by 4.2 per cent to touch an early low of Rs 17.10 on BSE.
Profit booking dragged down the company’s scrip on the National Stock Exchange as well, where it shed 4.76 per cent to touch a low of Rs 17.
The company’s consolidated net profit declined by 43.85 per cent to Rs 37.88 crore for the year ended March 31, 2011.
It had posted a profit of Rs 67.47 crore for the previous fiscal.
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