SKS Microfinance has reported results for its first quarter ended June 30, 2011.
The company reported a net loss of Rs 218.74 crore for the quarter as compared to a net profit of Rs 66.70 crore for the same quarter last year. Its total income has decreased by 46.35% to Rs 176.72 crore for the quarter under review from Rs 313.61 crore for the corresponding quarter of the previous 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.