SKS Microfinance Q3 net profit shoots up 19-fold to Rs 21.4 cr

SKS Microfinance today reported a whopping nearly 19-fold jump in net profit at Rs 21.4 crore for the third quarter ended December 31 after business outside Andhra Pradesh increased.
The net profit of the country's only listed micro-finance lender during the October-December quarter of FY'2012-13 stood at Rs 1.15 crore.
Total income of the company rose to Rs 133.32 crore during the quarter from Rs 85.06 crore in the year-ago period.
"The growth momentum has returned, and disbursements have gained traction with a 43 per cent quarter-on-quarter growth and 79 per cent year-on-year growth," company's Managing Director & CEO M R Rao said in a BSE filing.

Loan disbursements grew to Rs 1,399 crore in the reported period from Rs 784 crore in the corresponding quarter of the last fiscal, the filing said. The non-Andhra Pradesh portfolio grew by 58 per cent to Rs 2,364 crore from Rs 1,496 crore in Q3, FY'13, it added.
"Growth in credit assets, effective liquidity management and operating leverage playing out have placed our Return on Assets (ROA) and Return on Equity (ROE) in the best-of-the- breed league," said S Dilli Raj, Chief Financial Officer, SKS Microfinance.
Economic value of the un-availed deferred tax provision of Rs 567 crore has also started showing up on the profit and loss statement, he added.

Meanwhile, shares of the company ended 6.28 per cent lower at Rs 187.20 apiece on the BSE today.