Shares of brokerage firm Indiabulls Securities fell by over 4% in early trade on the BSE today after the company's net profit declined by 43.85% to Rs 37.88 crore for the year ended March 31, 2011.
Hit by the disappointing numbers, the stock went down by 4.2% to touch an early low of Rs 17.10 on the Bombay Stock Exchange (BSE).
Profit booking dragged down the company's scrip on the National Stock Exchange as well, where it shed 4.76% to touch a low of Rs 17.
The company's consolidated net profit declined by 43.85% 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.
Meanwhile, the BSE 30-scrip benchmark index Sensex was trading at 19,376.39, down by 207.92 points, or 1.06%, at 1017 hours.
