SKS Microfinance has rallied almost 9% to Rs 178 in opening trades on NSE after reporting a net profit of Rs 1.2 crore for the third quarter ended December 2012 (Q3) against net loss of Rs 428 crore in the same quarter previous year.
The country's only listed microfinance institution (MFI) has earned profit after seven consecutive quarters of losses on account of rise in advances.
Meanwhile, total income of the company during the quarter fell to Rs 85 crore from Rs 83.82 crore in the same period a year ago, SKS Microfinance said in a filing.
The stock opened at Rs 171 and has seen a combined 268,893 shares changing hands on the counter on the NSE and BSE.
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