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SKS Microfinance nosedives on reporting net loss of Rs 428 crore for Q3

20 Jan 2012 Evaluate

SKS Microfinance is currently trading at Rs. 89.45, down by 4.10 points or 4.38% from its previous closing of Rs. 93.55 on the BSE.

The scrip opened at Rs. 88.00 and has touched a high and low of Rs. 92.00 and Rs. 85.00 respectively. So far 285875 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 756.00 on 20-Jan-2011 and a 52 week low of Rs. 90.20 on 01-Dec-2011.

Last one week high and low of the scrip stood at Rs. 100.45 and Rs. 92.10 respectively. The current market cap of the company is Rs. 645.79 crore.

The promoters holding in the company stood at 36.84% while Institutions and Non-Institutions held 21.36% and 41.80% respectively.  

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.

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