SKS Microfinance reports net loss of Rs 38.83 crore in Q1

SKS Microfinance has reported results for first quarter ended June 30, 2012.

On standalone basis, the company has reported a net loss of Rs 38.83 crore for the quarter ended June 30, 2012 against net loss of Rs 218.74 crore for the corresponding period last fiscal. Total income decreased by 53.63% at Rs 74.48 crore during the quarter under review from Rs 160.64 crore in the year-ago period.

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.