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Shares of SKS Microfinance rallied 6% to Rs 492 on the National Stock Exchange (NSE) in early morning trade after the company reported 50% year on year (yoy) jump in its standalone net profit at Rs 40.54 crore for the quarter ended March 31, 2015 (Q4FY15). The company had profit of Rs 27.11 crore in a year ago quarter and Rs 41.06 crore in previous quarter.
On a sequential basis, the net profit for the quarter been flat largely due to an increase in standard asset provisioning of Rs 10 crore and a minimum alternate tax (MAT) expense of Rs 6 crore, SKS Microfinance said in a release.
Total operational income grew 44% at Rs 198 crore on yoy basis.
In Q4-FY15, cost-of-interest-bearing liabilities reduced by 1.1% from 12.9% in Q3-FY15 to 11.8% in Q4-FY15 (including processing fees paid on loans on balance sheet), it added.
The stock opened at Rs 481 and touched a high of Rs 497 on the NSE. Till 0933 hours, a combined 2.51 million shares have already changed hands against an average sub 3 million shares that were traded daily in past two weeks on the NSE and BSE.
On a sequential basis, the net profit for the quarter been flat largely due to an increase in standard asset provisioning of Rs 10 crore and a minimum alternate tax (MAT) expense of Rs 6 crore, SKS Microfinance said in a release.
Total operational income grew 44% at Rs 198 crore on yoy basis.
In Q4-FY15, cost-of-interest-bearing liabilities reduced by 1.1% from 12.9% in Q3-FY15 to 11.8% in Q4-FY15 (including processing fees paid on loans on balance sheet), it added.
The stock opened at Rs 481 and touched a high of Rs 497 on the NSE. Till 0933 hours, a combined 2.51 million shares have already changed hands against an average sub 3 million shares that were traded daily in past two weeks on the NSE and BSE.
