SKS Micro rallies over 5% after Q1 net surges

Shares of SKS Microfinance today surged over 5 per cent after the company reported a 23.9 per cent growth in net profit for the first quarter ended June 30.
The stock ended the day with a gain of 5.22 per cent at Rs 565.10 on BSE. During the day, it jumped 6.85 per cent to Rs 573.85 -- its 52-week high.
On NSE, the stock climbed 5.27 per cent to settle at Rs 565.15.
The company's market valuation rose Rs 357.36 crore to Rs 7,148.36 crore.
On the volume front, 5.51 lakh shares of the company changed hands at BSE and over 61 lakh at NSE during the day.

SKS Microfinance yesterday reported a 23.9 per cent growth in net profit at Rs 61.1 crore for the quarter under review compared with Rs 49.3 crore in the year-ago period.
The total income of the company rose to Rs 282.6 crore in the June quarter as against Rs 168.9 crore a year ago, SKS Microfinance had said in a statement.
Loan disbursements increased 105 per cent year-on-year to Rs 2,377 crore compared with Rs 1,160 crore in the same period a year ago.