Stock broking company Prime Securities today announced a writedown of Rs 23 crore

Stock broking company Prime Securities today announced a writedown of Rs 23 crore for the losses they suffered during the recent stock market crash. Prime Securities along with its subsidiary Prime Broking Company is the first broking houses to publicaly announce losses.

In a release issued to the Bombay Stock Exchange (BSE) the company said that the loss in the Futures & Options segment for the current financial year, till date, marginally stood under Rs 3 crore. However, a provisioning of Rs 23 crore was made by the firm for depletion in value of the securities.

The profit of the company in capital market segment for the current financial year, till date, stood at approximately Rs 38 crore.