SKS Microfinance tumbles 27% in one week

SKS Microfinance has been spiralling downwards since the last one week, tumbling 27% to Rs 382 from Rs 522 touched on July 26. The fall can be attributed to the poor set of first quarter numbers posted by the company.

The company reported Q1 net loss of Rs 218.74 crore compared to profit of Rs 66.7 crore on y-o-y basis. The total income declined 47% to Rs 163.55 crore from Rs 306.56 crore.

The stock opened at Rs 390 and fell to a low of Rs 380 in intra-day trades. As many as 52,000 shares have changed hands compared to its two-week average of 4,30,000 shares.