SKS Micro Q4 net doubles to Rs 84 crore

Total income from operations up 67% at Rs 330 cr; Full-year net profit up 61%, at Rs 303 cr

SKS Microfinance Limited, the only listed microfinance company in India, reported a 108 per cent jump in net profit at Rs 84.47 crore for the quarter ended March, 2016 on the back of higher income growth. The firm's net profit in the corresponding quarter previous year was Rs 40.54 crore.

Total income from operations grew 66.87per cent at Rs 329.76 crore in the quarter under review as compared with Rs 197.62 crore in the year ago period. For the full year ended March, 2016, the company's net profit stood at Rs 302.98 crore, an increase of 61.44 percent over Rs 187.66 crore in the previous year.

Total income for the year was Rs 1,169.10 crore as compared with Rs 723.96 crore in the previous fiscal, registering a similar growth as that of the net profit.

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While announcing the results the company informed that its gross loan portfolio, excluding the states of Andhra Pradesh and Telangana, registered an year-on-year growth of 84 per cent at Rs 7,677 crore as compared to Rs 4,171 crore in the corresponding previous quarter.

The company's cost to income stood at Rs 48.3 percent as compared to 61.1 per cent in FY 15 and operating expenses to gross loan portfolio was 7.16 per cent as compared to 9.5 per in FY 15, according to SKS.

The company added 8.45 lakh borrowers during FY 16 and ended the year with a borrower base of 4.64 million.

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