• Rajasthan

    Cong 99
    BJP 73
    RLM 3
    OTH 24
  • Madhya Pradesh

    Cong 114
    BJP 109
    BSP 2
    OTH 5
  • Chhattisgarh

    Cong 67
    BJP 15
    JCC 7
    OTH 0
  • Telangana

    TRS-AIMIM 95
    TDP-Cong 21
    BJP 1
    OTH 2
  • Mizoram

    MNF 26
    Cong 5
    BJP 1
    OTH 8

* Total Tally Reflects Leads + Wins

SKS Micro Q3 net surges to Rs 79.5 cr

By: | Published: January 28, 2016 12:30 AM

SKS Microfinance has posted a net profit of R79.5 crore in the December quarter, a 2% increase compared with R77.9 crore in the previous quarter. The gross loan portfolio (GLP) of the company, excluding the states of Andhra Pradesh and Telangana, registered a 13% rise quarter-on-quarter and a 93% year-on-year growth to R6,177 crore.

SKS Microfinance has posted a net profit of Rs 79.5 crore in the December quarter, a 2% increase compared with Rs 77.9 crore in the previous quarter. The gross loan portfolio (GLP) of the company, excluding the states of Andhra Pradesh and Telangana, registered a 13% rise quarter-on-quarter and a 93% year-on-year growth to Rs 6,177 crore.

In a statement, the company said that the marginal cost of borrowing reduced to 10% in Q3 from 11.2% in Q2 while its weighted average cost of borrowing stood at 11.5% in the December quarter, down from 12.1% in the September quarter.

Also, the operating expense to GLP ratio reduced to 6.8% in this quarter from 7.6% in Q2.

The loan disbursements increased by 93% for the quarter under review on a year-on-year basis to R2,980 crore as against Rs 1,544 crore in Q3-FY15. During the quarter, the company had incremental drawdowns of Rs 1,478 crore as against Rs 931 crore in Q3-FY15 including securitisation transactions of Rs 616 crore rated as ‘AA (SO)’ and Commercial Paper of Rs 100 crore rated as ‘A1+’ by a leading rating agency.

The company also originated Rs 260 crore worth of loans under managed portfolio in Q3-FY16.

Besides, the company has reduced the interest rate charged to borrowers from  20.75% to 19.75% on income-generating loans extended on or after December 7, 2015. With this reduction, the company charges the lowest rate among private MFIs in the world. There has been an aggregate interest rate reduction of 4.8% since October 2014. Further, the company availed of Rs 100 crore refinance from MUDRA at 10% per annum.

Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

Switch to Hindi Edition