New Delhi, Aug. 1 -- Credo Brands Marketing, which offers casual clothing for men under its flagship brand "Mufti," saw its shares crash 20% in intraday trade on Friday, August 1, to Rs.132 apiece-a level not seen since mid-May and the biggest intraday drop since its listing in December 2023. The sell-off came as investors seemed to be disappointed with the company's June quarter performance.

For the quarter ended in June, the company reported a 36% YoY drop in net profit to Rs.6.3 crore, while revenue from operations fell to Rs.120 crore from Rs.123.9 crore in the same period last year. EBITDA declined 7% YoY to Rs.31 crore, with margins contracting by 100 basis points to 25.9%.

The company's performance during the reporting quarter wa...