SKS Microfinance July-Sept net 805.4 mln rupees | business | Hindustan Times
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SKS Microfinance July-Sept net 805.4 mln rupees

SKS Microfinance, country's leading lender to tiny businesses, said profit for July-September stood at 805.4 million rupees

business Updated: Oct 25, 2010 11:09 IST

SKS Microfinance, country's leading lender to tiny businesses, said profit for July-September stood at 805.4 million rupees ($18.1 million).

The result, announced late on Friday, was the first by SKS after it went public amid much fanfare in August. It did not provide comparable numbers for the year-ago period.

SKS is backed by investors like Sequoia, Kismet Capital, Unitus, billionaire George Soros, venture capitalist Vinod Khosla and Infosys Technologies founder N.R. Narayana Murthy.

Shares of the Hyderabad-based company, which the market currently values close to 80 billion rupees, were down 0.7 percent at 1,046 rupees, in a Mumbai market that was up more than 1 per cent.

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