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SKS Microfinance surges 6% on robust Q4 numbers

SKS Microfinance surges 6% on robust Q4 numbers
Shares of the SKS Microfinance company surged more than 6% on Thursday after the company reported robust Q4 numbers for the quarter ended March 31, 2013.

The company reported a higher profit of Rs 2.7 crore in Q4-FY13 as compared to a profit of Rs.1.2 crore in Q3-FY13, when it turned around after seven consecutive quarters of losses caused by the external event of Andhra Pradesh microfinance crisis. The Company incurred a loss of Rs. 330 crore in Q4-FY12.

The Company's loan disbursements rose by 65% to Rs.1,295 crore in Q4-FY13 from Rs. 784 crore in Q3-FY13 while incremental draw downs registered a 201% jump to Rs.1,704 crore in Q4-FY13 from Rs. 566 crore in Q3-FY13 (year-on-year increase of 94% to Rs 2,875 crore in FY13 from Rs.1,484 crore in FY12).

SKS Microfinance Limited had a net worth of Rs. 390 core and a capital adequacy of 32.8% as of March 31, 2013. Cash and bank balance stood at Rs. 895 core.

Shares of the company were seen trading at Rs 134, higher by 5.17% on BSE at 10.40 am IST. It touched an intraday high of Rs 138.

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