Journalism of Courage
Premium
This is an archive article published on July 28, 2011
SKS share falls 10 on Rs 218 cr loss
Shares the countrys only listed micro finance company SKS Microfinance tumbled by 10 per cent on the National Stock Exchange to extend losses for the fourth consecutive session.
Written by ENS Economic Bureau
Mumbai | July 28, 2011 01:31 AM IST
2 min read
2 min read
Shares the countrys only listed micro finance company SKS Microfinance tumbled by 10 per cent on the National Stock Exchange to extend losses for the fourth consecutive session on Wednesday.
Investors battered SKS shares on the NSE after the company reported a net loss of Rs 218.7 crore for the quarter ended June 30,2011. The stock ended the day Rs 470.05 on the NSE,a steep loss of 10 per cent from its last close. Similarly,SKS scrip took a beating on the Bombay Stock Exchange BSE as well,where it closed the day with 8.35 per cent loss at Rs 478.15. The scrip has shed nearly 13 per cent on four days of straight losses on the BSE.
SKS Microfinance posted a net loss of Rs 218.74 crore for the quarter ended June 30,2011 as against a net profit of Rs 66.69 crore during the same period of last fiscal.
The companys total income fell to Rs 163.55 crore for the quarter from Rs 306.56 crore in the previous quarter. It had to provide Rs 188.63 crore towards provisions and write offs in the quarter as against Rs 11.96 crore during the same period a year ago.
The company,which raised around Rs 1,600 crore through its initial public offer last year,is now is mulling to raise Rs 900 crore by way of qualified institutional placement QIP. SKS shares had closed 2.01 per cent down on Tuesday.
Advertisement
Live Blog
PHOTOS
Top Stories
Advertisement
Must Read
Advertisement
Buzzing Now
- 01
- 02
- 03
- 04
- 05
Advertisement