SKS Micro Q3 profit surges twofold to Rs 79 cr

SKS Microfinance today reported nearly twofold increase in net profit at Rs 79,4 crore for the third quarter ended December 31.
The microfinance company had a net profit of Rs 41 crore in the similar quarter of the previous fiscal.
Total income increased to Rs 343.4 crore during the quarter compared with Rs 206.8 crore in the same period a year ago, SKS Microfinance said in a statement.
Loan disbursements increased by 93 per cent to Rs 2,980 crore as against Rs 1,544 crore in the same quarter in the previous fiscal.
During the quarter, the company had incremental drawdowns of Rs 1,478 crore including securitisation transactions of Rs 616 crore.

The company's marginal cost of borrowing reduced to 10 per cent in third quarter from 11.2 per cent.
As of December 31, the company had a net worth of Rs 1,292 crore and a capital adequacy of 23.9 per cent.