SKS Microfinance bounces back, stocks up 10%

SKS Microfinance bounces back, stocks up 10%
SKS microfinance, which was trading low for last 12 days due to the regulatory concern, jumped 10% on Tuesday. The share prices rose to Rs. 298.6 before hitting low of Rs. 255 on National Stock Exchange (NSE). Later the share price was hovering at Rs. 297 up 9.5%.

The stock of the company lost almost 50% during the previous twelve days trading.

Close to 69 lakhs shares were traded on the stock exchanges in the morning.

SKS microfinance had reported a loss of Rs. 70 crore for the quarter ending March 2011 on the back of the lower revenue realization and high credit cost.

For the twelve months period ending March 2011, SKS microfinance reported the net profit decline by 36% to Rs. 111.63 crore from Rs. 173.95 crore for the same period last year.

Read more about: sks microfinance, nbfc, nse, bse
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