SKS Microfinance profits up 265%, at INR 67 crores for Q1
- Tuesday, September 28, 2010, 21:47
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Microfinance Focus, September 28, 2010: India’s largest microfinance institution, SKS Microfinance has announced a 265% increase in its Profits After Tax (PAT) at INR 67 crores for the first quarter ended June 30, 2010, over the corresponding period a year ago.
The company’s income from microfinance activities rose 92% to INR 284 crores from INR 148 crores in the same period in financial year 2009.
During the quarter SKS made a public issue of 16,791,579 Equity Shares of Rs.10 each for cash consisting of a fresh issue of 7,445,323 Equity Shares at a premium of Rs.975 per equity share to Qualified Institutional Bidders and Non-institutional Bidders and at a premium of Rs.925 per equity share to Retail Individual Bidders. An offer for sale of 9,346,256 equity shares at premium of Rs.975 per equity share to Qualified Institutional Bidders and Non-institutional Bidders and at a premium of Rs. 925 per equity share to Retail Individual Bidders was also made.
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One Comment on “SKS Microfinance profits up 265%, at INR 67 crores for Q1”
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Good performance from SKS. 265% increase in profit in Q1 means a lot for the Stakeholders in terms of Bonus for staff, Return on Equity, and payment of interest, and cash & script dividends at financial year end. My worry as an African is, could SKS still be termed a Socially Responsible Iinvestment MFI ??? Income/Earnings constitute a major driver of Profit. Hope SKS is not working to maximize returns for its rich investor at the expense of the “poor“ borrowers ???.