India's GIC Housing Finance falls as Q3 profit slumps

GIC Housing Finance

03/02/2023 06:17

** Shares of GIC Housing Finance Ltd  GICH.NS  fall as much
as 7.1% to 176.85 rupees, their biggest intraday pct drop since
Dec. 23
    ** The loan and insurance provider on Thursday reported
about 17% drop in quarterly net profit of 654.4 million rupees
($7.96 million)
    ** Interest income at 2.77 billion rupees, down 3.7% for the
December quarter
    ** GICH reported total revenue from operations fell 3.7% to
2.81 billion rupees 
    ** Stock continues to cross 100-day (149.04 rupees) and
200-day (165.94 rupees) simple moving average (SMA)
    ** About 414,7500 shares change hands by 11:20 a.m. IST vs
30-day avg of 1.2 million shares
    ** Stock down 10.4% so far this year, as of last close 
($1 = 82.2070 Indian rupees)
 (Reporting by Priya Sagar in Bengaluru)
 ((Priya.Sagar@thomsonreuters.com;))