SKS Micro spurts on robust Q1

SKS Microfinance is doing very well on the bourses today, opening higher at Rs.295.25, going on to hit an intra day high at Rs.297.95 and it is currently at Rs.289 levels, up around 4.5%.

The company posted a robust set of numbers for Q1FY15. Loan disbursements grew by 40% (YoY) to Rs. 1,160 crore, NII was up 41% at Rs.89 crore and net profit for the quarter was up by a strong 81% (QoQ) at Rs.49 crore and up from Rs.5 crore in previous Q1. During the quarter, the company had incremental draw-downs of Rs. 575 crore.

Its s portfolio excluding the states of Andhra Pradesh and Telangana registered a 39% (YoY) increase to Rs. 2,783 crore and Rs. 2,553 crore in Q4FY14 on monthly closing average basis. As of June 30, 2014, SKS Microfinance Limited had a net worth of Rs. 891 crore and capital adequacy of 39.6%. Cash and cash equivalents stood at Rs. 488 crore.