SKS Microfinance tumbles to new low as Q4 net loss widens
SI Reporter/Mumbai 08 May 12 | 09:23 AM
Related to : SKS Microfinance Ltd
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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.
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