SKS Microfinance said it swung to a net loss in its fiscal fourth quarter late on Friday, hours after its shares tumbled by the maximum daily limit of 20% to an all-time low following a share price target cut by JPMorgan.
SKS, India's largest and only listed microfinance company, reported a net loss of Rs 697.7 million, compared with a profit of Rs 628.9 million a year earlier. The company reported sales of Rs 1.88 billion for the quarter, down from Rs 3 billion a year earlier.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
