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SKS to raise $203 mn via share sale; posts Q1 loss

SKS to raise $203 mn via share sale; posts Q1 loss
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First Published: Tue, Jul 26 2011. 07 52 PM IST
Updated: Tue, Jul 26 2011. 07 52 PM IST
Mumbai: SKS Microfinance , India’s largest and only listed microfinance company, said on Tuesday its board has approved raising up to Rs 900 crore ($202.7 million) through share sale to institutions.
The micro lender also said it had a net loss of Rs 219 crore in the June-quarter compared with net profit of Rs 66.69 crore a year ago.
Income from operations during the period nearly halved to Rs 150 crore, it said.
It had reported a net loss of about Rs 69.8 crore in the quarter-ended March.
Ahead of the announcement, its shares fell 1.89% to Rs 522.25 in the Bombay Stock Exchange.
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First Published: Tue, Jul 26 2011. 07 52 PM IST