For Quick Alerts
For Daily Alerts

SKS Micro drops 4% on show cause notice

SKS Micro drops 4% on show cause notice
Shares of the SKS Microfiance Ltd dropped more than 4% on Monday after the company received showcause notice from service tax authorities, demanding service tax of Rs 34.2 crore.

Also, the company reported Q2 net loss at Rs 262-cr against Rs 39-cr in the corresponding period of previous year.

The company shares was seen trading lower by 3.54% at Rs 116 on BSE at 10.20 am IST, after touching an intraday low of Rs 114.

According to the report, the company had not made provisions relating to the period FY 2007-08 to FY 2011-12.

The authorities have given 30 days to the company to respond.

The company's standalone total income from operations stood at Rs 78 crore against Rs 122 crore in the corresponding period last last year.

The company has cash and bank balances of Rs 358 crore as on September 30, 2012.

Read more about: sks
Story first published: Tuesday, October 30, 2012, 10:27 [IST]
Company Search
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more