Credit Suisse on Monday downgraded SKS Microfinance to underperform from outperform and cut the price target to Rs 323 from Rs 1,575,citing continued uncertainty on the microfinance business model.SKS8217;s March quarter results were weaker-than-expected,the investment bank said. SKS had reported on Friday a net loss of Rs 697.7 million 15.6 million for the fiscal fourth quarter,compared with a profit of Rs 628.9 million a year earlier.
At 10.16 a.m. 0446 GMT,shares of SKS were down 6.4 per cent at Rs 310.55.
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