India Infoline Shares Tumble for Fourth Day on Earnings

India Infoline Ltd. tumbled for a fourth day in Mumbai trading after the brokerage posted lower earnings.

The stock sank 7.2 percent to 66.3 rupees as of 12:15 p.m. local time, retreating for a fourth day and on course for the lowest close since April 2009.

Third-quarter profit, excluding that of units, dropped 28 percent to 377.1 million rupees ($8.3 million), according to a statement on the Bombay Stock Exchange. Total costs climbed 39 percent to 1.51 billion rupees. Group profit increased 13 percent to 670.6 million rupees.

To contact the reporter on this story: Shikhar Balwani in Mumbai at sbalwani@bloomberg.net

To contact the editor responsible for this story: Darren Boey at dboey@bloomberg.net

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