SKS Microfinance gains on strong Q3 earnings

The company net profit in Q3FY15 is around 92% higher than the same quarter last fiscal

SKS Microfinance has gained over 4% to Rs 444.50 after its net for the quarter ended December 2014 nearly doubled to Rs 41.05 crore compared to Rs 21.4 crore reported in the same quarter last fiscal.
 
The company's total revenue increased by around 48% to Rs 207 crore in the quarter ending in December, 2014 compared to the fugure of Rs 140 crore reported in the quarter ending in December, 2013 while in the same period total expenditure posted an increase of around 41% from Rs 118 crore in quarter ending in December, 2013 to Rs 166 crore in quarter ending in December, 2014.

 
On Thursday, the Board of Directors of of the company approved the Company’s proposal for making an application to the Reserve Bank of India for grant of a Small Finance Bank licence.
 

SKS Microfinance is among the largest microfinance companies in India with  presence across 16 states covering 1,00,000 villages.
 
The stock opened at Rs 435 and has hit a high of Rs 452 till 12:49 hrs while around 38 lac shares have changed hands on BSE and NSE combined.