SKS Microfinance Ltd posted a net loss of Rs 219 crore in the first quarter ended June 30, 2011 due to impact of Andhra Pradesh Microfinance Act and re-classification of assets and provisioning.
In the corresponding quarter previous year, the Hyderabad-based company earned a profit of Rs 66 crore.
As per the unaudited financial results of the company, the total revenue too declined significantly at Rs 163.55 crore (Rs 306 crore).
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Published on July 26, 2011
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