Shares of Canara Robeco Asset Management Company Ltd. fell as much as 11% on Tuesday, October 28, in response to its quarterly results, that were reported after market hours on Monday.

Revenue for the quarter declined by 11% on a sequential basis to ₹107.7 crore, while its Earnings before Interest, Tax, Depreciation and Amortisation (EBITDA) fell by 17% from June to ₹17%.

EBITDA margin for the quarter declined by 440 basis points to 63% from 68% in June. Net profit for the period declined by 20% sequentially due to higher expenses.

The company announced plans to launch two new schemes — Canara Robeco Innovation Fund and Canara Robeco Banking and Financial Services Fund — subject to approval from the Securities and Exchange Board of India (SEBI) or any other regulator, if required, an

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