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SKS Microfinance Q1 net profit at Rs 5 crore

SKS Microfinance, India’s only listed micro-lender, on Thursday announced net profit of R5 crore for the quarter ended June 2013 against the loss R39 crore in the corresponding quarter the previous year helped by increase in loan disbursements.
Hindustan Times | By HT Correspondent, Mumbai
UPDATED ON JUL 26, 2013 03:15 AM IST

SKS Microfinance, India’s only listed micro-lender, on Thursday announced net profit of Rs 5 crore for the quarter ended June 2013 against the loss Rs 39 crore in the corresponding quarter the previous year helped by increase in loan disbursements.

Net interest income rose by 71% to R70.6 crore in April-June quarter from Rs 41.3 crore in corresponding quarter of the last financial year.

“With the overall improvement in the regulatory environment aiding our robust growth in credit assets and core income, we are gearing up for sustained growth and profits. Operating leverage and financial leverage will aid profitability,” said S Dilli Raj, chief financial officer, SKS Microfinance.

The non-Andhra Pradesh portfolio grew by 63% to R2,003 crore in first quarter of FY14 from R1,229 crore in the year-ago period.Shares of the company ended flat at Rs 99.5 up 0.2% on the BSE on Thursday.

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