** Shares of Mastermyne MYE.AX fall 16.1% to A$0.13, dropping the most since mid-December, 2023
** Shares of the mining services company drop to their lowest level since February 21, 2024
** MYE's half-yearly profit from ordinary activities after tax attributable fell 91% to A$969,000 ($614,636.70), compared to A$10.9 million reported a year ago
** Profit hit is due to competitive market conditions and suspension of Grosvenor services
** 1.5 million shares change hands, vs the 30-day average of 163,178
** Stock down 6.1% this year
($1 = 1.5765 Australian dollars)
(Reporting by Nichiket Sunil in Bengaluru)
((Nichiket.Sunil@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.