Business Standard

SKS Microfinance tumbles to new low as Q4 net loss widens

Tanks 20% in opening trades

Related News

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 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.

Read more on:   
|
|

SKS Microfinance tumbles to new low as Q4 net loss widens

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.

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 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.

image

Read More

Agri Min proposes Rs 170/quintal hike in paddy MSP

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 ...

Recommended for you

Advertisements

Quick Links

Market News

All eyes on Brazil as Indian coffee prices dip

Unseasonal rain, rising costs and a global slowdown in production has driven coffee prices in India down. The only hope lies in greater global ...

Weekly Wrap: Markets end at 5-week closing highs

The IT and pharma indices gained 4.7% and 3.3% respectively, while the Metal index ended marginally in the red.

RBI has built defences against volatile capital flows, says Rajan

According to latest RBI data, foreign exchange reserves were at an all-time high of $353.88 bn

Lower coupon on new 10-year bond signals interest rates set to fall further

The coupon on the old 10-year bond has come at 7.72%

Govt mulls company law exemptions for global financial services centre

Deemed a 'foreign jurisdiction', catering to international markets, companies in the IFSC would not target domestic consumers

 

Back to Top