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SKS Micro shares gain nearly 3% as Q1 net surges

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Mumbai :Shares of SKS Microfinance today rose by nearly 3 per cent after the company reported a 23.9 per cent growth in net profit for the first quarter ended June 30.

The stock gained 2.83 per cent to Rs 552.30 — its 52-week high level at BSE.

On the NSE, it went up by 2.87 per cent to touch its one-year high of Rs 552.30.

SKS Microfinance yesterday reported a 23.9 per cent growth in net profit at Rs 61.1 crore for the first quarter ended June 30 as compared to the corresponding period in the previous fiscal.

The company earned a net profit of Rs 49.3 crore in the April-June quarter of 2014-15.

The total income of the company rose to Rs 282.6 crore during the quarter under review compared with Rs 168.9 crore in the same period last year, SKS Microfinance had said in a statement.

Loan disbursements increased 105 per cent on a year-on-year basis to Rs 2,377 crore compared with Rs 1,160 crore in the same period a year ago.

PTI