SKS Microfinance has surged 7% to Rs 107 after reporting a net profit of Rs 5 crore for the quarter ended June 2013 (Q1-FY14) against the loss Rs 39 crore in the corresponding quarter the previous year helped by increase in loan disbursements.
“The company has registered a four-fold increase in operating profit to Rs 16 crore in Q1-FY14 from Rs 4 crore in March quarter” SKS Microfinance, India’s only listed micro-lender said in a press release.
In June quarter last year, the company had incurred a loss of Rs 39 crore.
The company’s net interest income increased by 26% year-on-year to Rs 63 crore in Q1-FY14 as loan disbursements registered a 51% increase to Rs 830 crore over the previous year quarter.
The stock opened at Rs 105 and hit a high of Rs 108 on NSE. A combined around 698,230 shares already changed hands on the counter in early morning deals against an average sub one million shares that were traded daily in past two weeks.
“The company has registered a four-fold increase in operating profit to Rs 16 crore in Q1-FY14 from Rs 4 crore in March quarter” SKS Microfinance, India’s only listed micro-lender said in a press release.
In June quarter last year, the company had incurred a loss of Rs 39 crore.
The company’s net interest income increased by 26% year-on-year to Rs 63 crore in Q1-FY14 as loan disbursements registered a 51% increase to Rs 830 crore over the previous year quarter.
The stock opened at Rs 105 and hit a high of Rs 108 on NSE. A combined around 698,230 shares already changed hands on the counter in early morning deals against an average sub one million shares that were traded daily in past two weeks.
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%