Matrimony Downgraded By ICICI Sec Despite Q2 Profit Surge
· Business · Business Standard
Matrimony.com shares skidded after ICICI Securities downgraded the stock despite a 167 percent rise in second quarter profit. The brokerage cut its rating following a review of the company's financial performance and valuation metrics. The matrimonial services provider reported a significant jump in PAT for the quarter ending September. Market reaction reflected investor caution despite the strong bottom line growth. The report does not specify the exact target price set by the brokerage.
Why it matters
Retail investors and shareholders face valuation uncertainty as brokerage downgrades counter strong quarterly earnings growth for the matrimony platform.
Read the original report — Business Standard
Join us on Telegram
Breaking news the moment it lands. At 10,000 members we ship the Android app.