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 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
Business Standard
177 22
Business Standard

SKS Microfinance tumbles to new low as Q4 net loss widens

Tanks 20% in opening trades

SI Reporter  |  Mumbai 

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.

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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
Business Standard
177 22

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