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SKS Microfinance stock plunges


SKS Microfinance stock plunges
The stock of India's only listed Microfinance company, SKS Microfinance hit the fresh lows on Tuesday after it posted poor results in its second quarterly results.

The stock of SKS Microfinance fell by 12.30 points or 5.89% to Rs 196.70 on the Bombay Stock Exchange (BSE).


The company which provide financial services to poor people reported a loss of Rs 384 crore for the September quarter against the net profit of Rs 80.54 crore during the corresponding quarter previous year.

On the National Stock Exchange (NSE), the stock opened low at Rs 201.75 and fell further by 11.75 points or 5.62% to Rs 197.45. It made a fresh lows at Rs 188.30.

About SKS Microfinance: The company is a non-banking financial company (NBFC), regulated by the Reserve Bank of India (RBI) with its presence in 19 states. The company provide loans to low-income households in villages by charging a small interest rate.

SKS Microfinance stands on the mission to eradicate poverty by providing financial aid to poor people.

Read more about: sks microfinance results bse nse
Story first published: Tuesday, November 8, 2011, 12:51 [IST]
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