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.
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