Shares SKS Microfinance touched the 52-week low at Rs57.85, after the company reported net loss of Rs329.53 crore in Q4 March 2012, higher than net loss of Rs69.77 crore in Q4 March 2011.
SKS Microfinance's total income declined 63% to Rs71.69 crore in Q4 March 2012 over Q4 March 2011. The company reported net loss of Rs1360.60 crore in the year ended March 31, 2012, compared with net profit of Rs111.63 crore in the year ended March 31, 2011. Total income declined 62.8% to Rs472.30 crore in the year ended March 31, 2012 over the year ended March 31, 2011.
SKS Microfinance said it has brought down the residual Andhra Pradesh exposure (Net) to Rs236 crore from a high of Rs1491 crore in October 2010 by writing off Rs272 crore in Q4 March 2012 resulting in a net loss of Rs330 crore in that quarter. The net loss of Rs330 crore in Q4 March 2012 was lower than the loss of Rs428 crore in Q3 December 2011, the company said in a statement.
The Company said it has healthy cash and bank balances of Rs669 crore with a networth of Rs435 crore and strong capital adequacy of 35.4% (as against the 12% stipulated by the RBI) as of March 31, 2012. In addition, the unavailed deferred tax benefit stands at Rs461 crore, the company said. Significantly, the company obtained incremental credit of Rs1360 crore in Q4 March 2012, SKS Microfinance said in a statement.
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SKS Microfinance's total income declined 63% to Rs71.69 crore in Q4 March 2012 over Q4 March 2011. The company reported net loss of Rs1360.60 crore in the year ended March 31, 2012, compared with net profit of Rs111.63 crore in the year ended March 31, 2011. Total income declined 62.8% to Rs472.30 crore in the year ended March 31, 2012 over the year ended March 31, 2011.
SKS Microfinance said it has brought down the residual Andhra Pradesh exposure (Net) to Rs236 crore from a high of Rs1491 crore in October 2010 by writing off Rs272 crore in Q4 March 2012 resulting in a net loss of Rs330 crore in that quarter. The net loss of Rs330 crore in Q4 March 2012 was lower than the loss of Rs428 crore in Q3 December 2011, the company said in a statement.
The Company said it has healthy cash and bank balances of Rs669 crore with a networth of Rs435 crore and strong capital adequacy of 35.4% (as against the 12% stipulated by the RBI) as of March 31, 2012. In addition, the unavailed deferred tax benefit stands at Rs461 crore, the company said. Significantly, the company obtained incremental credit of Rs1360 crore in Q4 March 2012, SKS Microfinance said in a statement.
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