Microfinance

SKS Microfinance reports 116% increase in Q2 net profit at Rs 80.54 Crore

SKS Microfinance, India’s largest microfinance company has reported a jump of 116% in it’s net profit at Rs 80.54 Crore in the second quarter ending 30 September 2010, from the Rs 37.35 crore it reported in the corresponding period last year.The company’s revenues also rose 75% to touch Rs 373 crore.

Incremental loan disbursements in the second quarter increased by 61% to Rs 3,171 crore while the gross loan portfolio increased 69% to Rs 5,434 crore.The gross loan portfolio includes assigned loans of Rs 486 crore. Earnings per share (EPS) has improved to Rs 11.74 at the end of September 2010 compared to Rs 7.77 in the corresponding period of 2009.sks microfinance

Sources have confirmed that SKS Microfinance’s top secret board meeting which was held at an undisclosed but secure location, was attended by the company’s former CEO Suresh Gurumani. Mr Suresh Gurumani was sacked a few weeks ago but was reinstated as a Director of SKS Microfinance on the orders of the courts of Andhra Pradesh.

SKS Microfinance’s stock was down 4.78% at Rs 1,053 on the Bombay Stock Exchange on Friday. The results were announced after trading hours and analysts expect the stock to stage a relief rally on Monday.

Details of SKS Microfinance’s Half Yearly Results from 01-Apr-2010 to 30-Sep-2010 (First Half) are given below.The results are Unaudited, Cumulative and Non-Consolidated.

DescriptionAmount(Rs. in lakhs)
Net Sales/Income from Operations62590.66
Other Operating Income4722.23
Increase/Decrease in Stock in trade and work in progress
Consumption of Raw Materials
Purchase of traded goods
Employees Cost16935.53
Depreciation897.76
Other Expenditure11848.42
Total Expenditure29681.71
Profit from Operations before Other Income, Interest & Exceptional Items37631.18
Other Income1309.17
Profit before Interest & Exceptional Items38940.35
Interest16404.44
Profit after Interest but before Exceptional Items22535.91
Exceptional items
Profit(+)/Loss(-) from Ordinary Activities before tax22535.91
Tax Expense7811.47
Net Profit(+)/Loss(-) from Ordinary Activities after tax14724.44
Extraordinary Items
Net Profit (+) / Loss (-) for the period14724.44
Dividend (%)
Face Value (in Rs.)10.00
Paid-up Equity Share Capital7199.85
Reserves excluding Revaluation Reserves
Basic EPS before Extraordinary items (in Rs.)22.12
Diluted EPS before Extraordinary items (in Rs.)20.66
Basic EPS after Extraordinary items (in Rs.)22.12
Diluted EPS after Extraordinary items (in Rs.)20.66
Public Shareholding (Number of Shares)45323015.00
Public Shareholding (%)62.95
Promoter & Promoter group Number of Shares Pledged / Encumbered0.00
Promoter & Promoter group Shares Pledged / Encumbered (as a % of total shareholding of Promoter and Promoter Group)
Promoter & Promoter group Shares Pledged / Encumbered (as a % total share capital of the company)
Promoter & Promoter group Number of Shares Non-encumbered26675527.00
Promoter & Promoter group Shares Non-encumbered (as a % of total shareholding of Promoter and Promoter Group)100.00
Promoter & Promoter group Shares Non-encumbered (as a % total share capital of the company)37.05

Remarks:

1.Other Expenditure= Provisions and Write Off of Rs. 2926.72 lacs + Operating and Other Expenses of Rs. 8921.7 lacs.

2.The Company operates in a single segment i.e. Lending to members.

Details of SKS Microfinance’s 2nd Quarter Results from 01-July-2010 to 30-Sep-2010 (F2nd Quarter ) are given below. The results are Unaudited, Cumulative and Non-Consolidated.

DescriptionAmount(Rs. in lakhs)
Net Sales/Income from Operations34165.08
Other Operating Income2491.71
Increase/Decrease in Stock in trade and work in progress
Consumption of Raw Materials
Purchase of traded goods
Employees Cost8785.15
Depreciation476.44
Other Expenditure6536.81
Total Expenditure15798.40
Profit from Operations before Other Income, Interest & Exceptional Items20858.39
Other Income603.81
Profit before Interest & Exceptional Items21462.20
Interest9077.67
Profit after Interest but before Exceptional Items12384.53
Exceptional items
Profit(+)/Loss(-) from Ordinary Activities before tax12384.53
Tax Expense4329.82
Net Profit(+)/Loss(-) from Ordinary Activities after tax8054.71
Extraordinary Items
Net Profit (+) / Loss (-) for the period8054.71
Dividend (%)
Face Value (in Rs.)10.00
Paid-up Equity Share Capital7199.85
Reserves excluding Revaluation Reserves
Basic EPS before Extraordinary items (in Rs.)11.74
Diluted EPS before Extraordinary items (in Rs.)10.99
Basic EPS after Extraordinary items (in Rs.)11.74
Diluted EPS after Extraordinary items (in Rs.)10.99
Public Shareholding (Number of Shares)45323015.00
Public Shareholding (%)62.95
Promoter & Promoter group Number of Shares Pledged / Encumbered0.00
Promoter & Promoter group Shares Pledged / Encumbered (as a % of total shareholding of Promoter and Promoter Group)
Promoter & Promoter group Shares Pledged / Encumbered (as a % total share capital of the company)
Promoter & Promoter group Number of Shares Non-encumbered26675527.00
Promoter & Promoter group Shares Non-encumbered (as a % of total shareholding of Promoter and Promoter Group)100.00
Promoter & Promoter group Shares Non-encumbered (as a % total share capital of the company)37.05

Remarks:

1.Other Expenditure= Provision & Write Off of Rs. 1730.89 lacs + Operating and Other Expenses of Rs. 4805.92 lacs.

2.The Company operates in a single segment i.e. Lending to members.

To Top