SKS Microfinance has reported a profit after tax of Rs.80.54 Cr in the second quarter ended 30 September 2010, a jump of 116% from the Rs.37.35 Cr in the corresponding period last year.
Revenues increased by 76% to Rs.366 Cr from Rs.207 Cr in the period a year ago.
The company had reported a net profit of Rs.67 Cr in the Q1FY11.
Incremental loan disbursements in the second quarter increased by 61% y-o-y to Rs.3,171 Cr and the loan portfolio for the half-year period was up by 69% to Rs.5,454 Cr. Earnings per share improved to Rs.11.74 at the end of September 2010 compared to Rs7.77 in the corresponding period last year.
1 comment:
Micro-Finance to Face Slow Painful Death. SKS Share to enter Free Fall. Sell, Sell, Sell!
SKS, the Indian micro-finance giant’s IPO was supposed to signal the coming of age of the micro-finance (MF). Instead, it contained the seed for the destruction of the entire industry. Their Rs 10 share on listing attracted a premium of Rs 975 and such was the investor confidence, it touched a high of Rs 1,490 in a matter of days. Then hell broke loose with the industry hit by charges of them profiteering and causing farmer suicides. Its reverberations were so strong that it had been felt by the industry all over the world. The stock plunged to Rs 890 before recovering to be a tad over its listing price and hovering around this range for the last one week. We expose the dark underbelly of a Frankenstein unleashed by NGOs.
Read more: http://devconsultgroup.blogspot.com/2010/11/micro-finance-to-face-slow-painful.html
Post a Comment