GMP Capital posts Q3 loss

Fri Nov 4, 2011 6:58am EDT
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(Reuters) - GMP Capital Inc (GMP.TO: Quote), one of Canada's largest independent investment dealers, reported a quarterly loss, hurt by a weak performance at its capital markets division.

The division posted a third-quarter operating loss of C$3.8 million, compared with earnings of C$36.4 million, a year ago.

GMP Capital reported a net loss of C$4.6 million, or 9 Canadian cents per basic share, compared with a profit of C$23.1 million, or 32 Canadian cents per basic share, last year.

Revenue fell 54 percent to C$46.3 million.

Shares of the company closed at C$7.05 on Thursday on the Toronto Stock Exchange.

($1 = 1.013 Canadian Dollars)

(Reporting by Ankur Banerjee in Bangalore; Editing by Maju Samuel)