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SKS Microfinance reports net loss of Rs 218.74 crore for Q1

27 Jul 2011 Evaluate

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.

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