Tanks 20% in opening trades
SKS Microfinance has tumbled 20% to Rs 75.85, its all-time low in opening deals after reporting a net loss of Rs 330 crore for the quarter ended March 2012 on account of a Rs272 crore write-off on its Andhra Pradesh loan portfolio. The only listed microfinance company in the country had a net loss of Rs 70 crore in the previous year quarter.
Total income too, declined by 62% at Rs 66.15 crore on year-on-year basis during the quarter under review.
A combined 120,000 shares have changed hands on the counter in opening deals on both the exchanges.
In view of rising farm input costs, the Agriculture Ministry has proposed a Rs 170 per quintal increase in the minimum support price (MSP) of paddy ...