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Hyderabad-based SKS Microfinance Limited has reported more than a two fold jump in net profit at Rs 56.75 crore in the quarter ending September, 2014 as compared to Rs 16.34 crore in the corresponding quarter previous year.
The company's total income from operations grew 46.29 per cent to Rs 190.10 crore from Rs 129.95 crore in the year ago period. Absence of provisions and write-offs as well as the tax liabilities coupled with steep increase in income helped the India's only listed micro finance company to increase the profit levels in the quarter under review.
SKS said its portfolio excluding Andhra Pradesh and Telangana registered a 50 per cent increase to Rs 3,043 crore from Rs 2,029 crore in the second quarter previous year. Loan disbursements registered a 73 per cent increase to Rs 1,693 crore in the quarter ended September, 2014 from Rs 978 crore in the year ago period, according to a press release issued by the company.
