SKS Microfinance loan portfolio crosses Rs 3,000 cr

SKS Microfinance Ltd today said its portfolio, excluding the states of Andhra Pradesh and Telangana, registered a 50 per cent year-on-year increase to Rs 3,043 crore from Rs 2,029 crore in Q2, FY'14.
Acording to an official statement issued here today, the company registered an 8 per cent quarter-on-quarter growth at Rs 2,783 crore in Q1, FY'15.
Loan disbursements registered a 73 per cent year-on-year increase to Rs 1,693 crore in Q2-FY15 from Rs 978 crore in Q2-FY14. It reported a 46 per cent quarter-on-quarter growth at Rs 1,160 crore in Q1 FY15, the statement said.
Net interest income saw a 63 per cent year-on-year growth to Rs 110 crore from Rs 68 crore in Q2-FY14. PAT increased to Rs 56.8 crore in Q2-FY15 from Rs 49.3 crore in Q1-FY15, the statement said.

The company had incremental draw-downs of Rs 1,100 crore in Q2-FY15 as against Rs 575 crore in Q1-FY15.
The company's membership base excluding the states of Andhra Pradesh and Telangana witnessed a 28 per cent year-on- year growth to 41.71 lakh in Q2-FY15 as against 32.62 lakh in Q2-FY14, the statement said.

The total number of loans disbursed registered 58 per cent year-on-year increase to 14.04 lakh as compared to 8.89 lakh in Q2-FY14 with the average loan ticket size being Rs 12,068 in Q2-FY15, the statement said.
As of September 30, 2014, SKS Microfinance had a networth of Rs 951 crore and capital adequacy of 33.2 per cent without the Reserve Bank of India dispensation on the Andhra Pradesh and Telangana provisioning. Cash and cash equivalents excluding security deposit stood at Rs 530 crore, the statement said.

The un-availed deferred tax benefit of Rs 522 crore would be available to offset tax on future taxable income. Given the carried forward tax loss, no tax provision was required for Q2 FY 15, the statement said.