SKS Microfinance Q2 Profit Jumps to Rs.78 Cr

SKS Microfinance has announced the Unaudited Standalone financial results for the second fiscal year quarter ended September 30, 2015 posting a net profit after tax of Rs.77.85 crore as compared to Rs.56.75 crore for the same quarter ended September 30, 2014.

Total Income has increased from Rs.201 crore for the quarter ended September 30, 2014 to Rs.324 crore for the quarter ended September 30, 2015. “Total income has increased to Rs 324.29 crore for the quarter ended September 30, 2015 from Rs 201.02 crore for the quarter ended September 30, 2014,” SKS had said in a filing to BSE.

The positive performance of the company has further given boost to its share which were trading in BSE at Rs.429.45 as compared to the previous close of Rs. 441. The total number of shares traded during the day was 355943 in over 8456 trades.

Shares of SKS Microfinance on Tuesday surged nearly 6 per cent after the company posted 37.2 per cent increase in net profit for the second quarter of the current financial year. The stock registered an intraday high of Rs. 446.9 and intraday low of 426.25 and the net turnover was Rs. 15,38,78,458.

SKS Microfinance has recently slashed its interest rates on its micro-credits from 22% to 20% at a time when other microfinance institutions are lending similar loans at 22% to 26% in the country.

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