SKS Microfinance has been spiralling downwards since the last one week, tumbling 27% to Rs380 from Rs522 touched on July 26. The fall can be attributed to the poor set of first quarter numbers posted by the company.
The company reported Q1 net loss of Rs218.74 crore compared to profit of Rs66.7 crore on y-o-y basis. The total income declined 47% to Rs163.55 crore from Rs306.56 crore.
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