 "SKS Microfinance surges on ten-fold jump in Q1 profit")
SKS Microfinance has surged 7% to Rs 295 on reporting nearly ten-fold jump in profit at Rs 49 crore for the first quarter ended June 30, 2014 (Q1). The company had profit of Rs 5 crore in the corresponding quarter of previous year.
The total revenue has gone up by 30% to Rs 152 crore against Rs 117 crore in a year ago quarter, the company said in a release on Thursday.
The company said, it’s portfolio excluding the states of Andhra Pradesh and Telangana registered a 39% year-on-year increase to Rs 2,783 crore from Rs 2,003 crore during the recently concluded quarter.
As of June 30, 2014, SKS Microfinance had a net worth of Rs 891 crore and capital adequacy of 39.6%. Cash and cash equivalents stood at Rs 488 crore.
The stock opened at Rs 295 and touched a high of Rs 298 on BSE. A combined 213,000 shares changed hands on the counter in early morning deals on BSE and NSE.
The total revenue has gone up by 30% to Rs 152 crore against Rs 117 crore in a year ago quarter, the company said in a release on Thursday.
The company said, it’s portfolio excluding the states of Andhra Pradesh and Telangana registered a 39% year-on-year increase to Rs 2,783 crore from Rs 2,003 crore during the recently concluded quarter.
As of June 30, 2014, SKS Microfinance had a net worth of Rs 891 crore and capital adequacy of 39.6%. Cash and cash equivalents stood at Rs 488 crore.
The stock opened at Rs 295 and touched a high of Rs 298 on BSE. A combined 213,000 shares changed hands on the counter in early morning deals on BSE and NSE.