SKS Microfinance rose 1.82% to Rs 318.50 at 09:31 IST on BSE after net profit jumped 247.3% to Rs 56.75 crore on 48.7% growth in total income to Rs 201.02 crore in Q2 September 2014 over Q2 September 2013.
The result was announced after market hours yesterday, 20 October 2014.
Meanwhile, the BSE Sensex was up 89.22 points, or 0.34%, to 26,519.07
On BSE, so far 1.62 lakh shares were traded in the counter, compared with an average volume of 3.53 lakh shares in the past one quarter.
The stock hit a high of Rs 323.10 and a low of Rs 317.40 so far during the day. The stock hit a 52-week high of Rs 348.35 on 12 September 2014. The stock hit a 52-week low of Rs 140.75 on 12 November 2013.
The mid-cap company has an equity capital of Rs 126 crore. Face value per share is Rs 10.
SKS Microfinance's loan disbursements rose 73% to Rs 1693 crore in Q2 September 2014 over Q2 September 2013. Net interest income rose 63% to Rs 110 crore in Q2 September 2014 over Q2 September 2013.
As on 30 September 2014, SKS Microfinance had a net worth of Rs 951 crore and capital adequacy of 33.2% (without the Reserve Bank of India dispensation of the Andhra Pradesh and Telangana provisioning). Cash and cash equivalents (excluding security deposit) stood at Rs 530 crore, the company said in a statement.
The un-availed deferred tax benefit of Rs 522 crore will be available to offset tax on future taxable income, SKS Microfinance said. Given the carried forward tax loss, no tax provision was required for Q2 September 2014, the company said in a statement.
SKS Microfinance is a non banking financial company - micro finance institution (NBFC-MFI), registered and regulated by the RBI, whose mission is to provide financial services to low-income households. SKS operates across 15 states of India. They include: Andhra Pradesh, Karnataka, Maharashtra, Odisha, Madhya Pradesh, Bihar, Uttar Pradesh, Rajasthan, Uttaranchal, Haryana, West Bengal, Jharkhand, Chhattisgarh, Kerala and Punjab.
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