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SKS Microfinance corrects on profit booking

Capital Market 

SKS Microfinance fell 4.62% to Rs 444 at 10:13 IST on BSE on profit booking after the stock rose 7.28% in the preceding two trading sessions to Rs 465.50 on 11 May 2015, from a recent low of Rs 433.90 on 7 May 2015.

Meanwhile, the BSE Sensex was down 436.87 points, or 1.59%, to 27,070.43.

On BSE, so far 1.65 lakh shares were traded in the counter, compared with an average volume of 2.63 lakh shares in the past one quarter.

The stock hit a high of Rs 463 and a low of Rs 443.35 so far during the day. The stock hit a 52-week high of Rs 525 on 8 April 2015. The stock hit a 52-week low of Rs 230.35 on 12 May 2014.

The stock had underperformed the market over the past one month till 11 May 2015, sliding 8.55% compared with 4.75% fall in the Sensex. The scrip had, however, outperformed the market in past one quarter, rising 9.92% as against Sensex's 3.60% fall.

The mid-cap company has an equity capital of Rs 126.35 crore. Face value per share is Rs 10.

SKS Microfinance's net profit rose 49.50% to Rs 40.53 crore on 53.49% increase in total income to Rs 226.20 crore in Q4 March 2015 over Q4 March 2014.

SKS Microfinance is among the largest microfinance companies in India. The company's mission is to provide financial services to the economically weaker sections.

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First Published: Tue, May 12 2015. 10:08 IST