SKS Microfinance has reported results for its first quarter ended December 31, 2011.
SKS Microfinance posted a net loss of Rs 428 crore in the third quarter ended December 31, 2011 against Rs 34 crore net profit in the corresponding quarter of previous financial year. The total revenue of the company has decreased by 78% to Rs 83.82 crore for the quarter under review against Rs 384 crore for the corresponding quarter of previous financial year.
SKS Microfinance is a non-banking finance company (NBFC), registered and regulated by Reserve Bank of India, whose mission is to eradicate poverty by providing financial services to the poor.