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SKS Microfinance jumps over 5% on robust Q3

By Religare
SKS Microfinance jumps over 5% on robust Q3
Shares of micro lender SKS Microfinance rose over 5 per cent on Bombay Stock Exchange (BSE) after company reported strong set third quarter numbers ended December 31, 2013.

The company reported a net profit of Rs.21.42 crore for the quarter ended December, against a profit of Rs.1.15 crore a year ago, driven by higher demand for loans outside its home base of Andhra Pradesh.

Buoyed by earnings, shares of company gained as much as 5.12 per cent to trade at Rs 196.80 a piece on the BSE. In a similar fashion, shares of the company climbed 3.04 per cent to Rs 193.45 a piece on National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 20,825.73, down 307.83 points or 1.42 per cent at 10:05 hours.

Dion Global Solutions Ltd.

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