SKS Microfinance has surged 5% to Rs 164 on NSE after reporting a net profit of Rs 16.34 crore for the quarter ended September (Q3), its fourth consecutive quarter of profit, on back of higher operational and other income. The country’s only listed microlender had reported loss of Rs 262 crore in the same period last year.
The company’s total revenue increased by 67% year-on-year (yoy) at Rs 135 crore from Rs 81 crore in year ago quarter. The microlender has disbursed Rs 978 crore in the fiscal second quarter against Rs 690 crore a year ago, registering an increase of 42%.
On a sequential basis, the company’s net interest income grew by 7% to Rs.68 crore due to growth in loan disbursements. Collection efficiency stood at 99.9%, the company said.
“We are now in a position to fully address the credit requirements of our 3.3 million members across 14 states and are also looking at leveraging our rural distribution network to meet the other nonfund-based requirements of our members," said M.R. Rao, Managing Director & CEO, SKS Microfinance Limited. "Improving operating efficiency continues to be a focus area.”
The stock opened at Rs 161 and touched high of Rs 165 on NSE. A combined 350,000 shares change hands on the counter till 0935 hours on NSE and BSE.
The company’s total revenue increased by 67% year-on-year (yoy) at Rs 135 crore from Rs 81 crore in year ago quarter. The microlender has disbursed Rs 978 crore in the fiscal second quarter against Rs 690 crore a year ago, registering an increase of 42%.
On a sequential basis, the company’s net interest income grew by 7% to Rs.68 crore due to growth in loan disbursements. Collection efficiency stood at 99.9%, the company said.
“We are now in a position to fully address the credit requirements of our 3.3 million members across 14 states and are also looking at leveraging our rural distribution network to meet the other nonfund-based requirements of our members," said M.R. Rao, Managing Director & CEO, SKS Microfinance Limited. "Improving operating efficiency continues to be a focus area.”
The stock opened at Rs 161 and touched high of Rs 165 on NSE. A combined 350,000 shares change hands on the counter till 0935 hours on NSE and BSE.
