SKS Microfinance is currently trading at Rs 90.20, down by 4.50 points or 4.75% from its previous closing of Rs 94.70 on the BSE.
The scrip after opening at Rs 91.00 touched a high of Rs 93.00 and new low of Rs 75.85. So far 227393 shares were traded on the counter.
The BSE group 'B' stock of face value Rs 10 has touched a 52 week high of Rs 608.65 on 13-Jul-2011 and a 52 week low of Rs 75.85 on 08-May-2012.
Last one week high and low of the scrip stood at Rs 106.00 and Rs 75.85 respectively. The current market cap of the company is Rs. 661.57 crore.
The promoters holding in the company stood at 36.84% while Institutions and Non-Institutions held 20.56% and 42.61% respectively.
Hurt by higher bad debt provisions and loan write-offs, India's only listed micro-lender SKS Microfinance reported a fifth straight quarterly loss. The company’s net loss widened to Rs 330 crore for the three months ended March from a loss of Rs 69.77 crore for the same period a year earlier. Total income of the Hyderabad-based firm in the fourth financial quarter fell 69% to Rs 52.8 crore. The company’s debt provisions and write-offs climbed to Rs 278 crore from Rs 106 crore.
However, the company reported 11% quarter on quarter (Q-o-Q) portfolio growth at Rs 1320 crore in Q4FY12 in its non-Andhra Pradesh operations reversing the declining trend over the previous five quarter. The company has been under a cloud since 2010 after the state of Andhra Pradesh, the hub of the industry, accused micro-lenders of exploiting poor borrowers with exorbitant lending rates and abusive debt collection practice.
Meanwhile, the company has continued to maintain its high collection efficiencies in 17 non-Andhra Pradesh states with the collection figure for the quarter ending March 2012 standing at 95%.
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The third tag Upside Potential is not relevant for SIP. It is relevant for lumpsum investments in Mutual Funds.
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