Shares of Indiabulls Housing Finance Ltd (IBHFL) on Wednesday plunged over 13 per cent after the company reported a 24 per cent fall in net profit for the first quarter ended June 30.
The stock plummeted 13.31 per cent to close at Rs 445.65 on the BSE. During the day, it tanked 14.31 per cent to Rs 440.50 -- its 52-week low.
On the NSE, shares dropped 13.40 per cent to close at Rs 445.15.
In terms of traded volume, 21.03 lakh shares of the company were traded on the BSE and over 3.55 crore units on the NSE during the day.
Indiabulls Housing Finance Ltd on Tuesday reported a 24 per cent fall in net profit at Rs 802 crore for the first quarter ended June 30.
The company had registered a net profit of Rs 1,055 crore in the corresponding period of the previous fiscal.
The company's total income fell to Rs 3,886.12 crore during the June quarter as against Rs 4,071.32 crore in the year-ago period, it said in a release.
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