13th-Jul-2012 10:02Source: BSE

SKS Microfin - Guidance for Q1 FY13

SKS Microfinance Ltd has informed BSE that;

"An increase in the amount of loans assigned by SKS Microfinance Limited (“the Company”) towards the end of the quarter ended March 31, 2012 resulted in increased levels of cash and bank balances of about Rs. 6,899.8 million as of March 31, 2012 that was not quickly redeployed, which in turn resulted in a relatively lower outstanding portfolio of loans. These and other factors resulted in our operational income being insufficient to meet the finance costs, personnel expenses and operating expenditure of the Company. which remained relatively unaffected by the factors discussed above. As a consequence of these factors and current business conditions, the Company expects to incur an operational loss in the first
quarter of Fiscal 2013 that may range between Rs. 300.0 million and Rs. 500.0 million or higher, and adverse financial performance of the Company may continue for the rest of Fiscal 2013."