SKS Micro shares gain nearly 3% as Q1 net surges

The stock gained 2.83 percent to Rs 552.30 -- its 52-week high level at BSE.

SKS Micro shares gain nearly 3% as Q1 net surges

Mumbai: Shares of SKS Microfinance on Thursday rose by nearly 3 percent after the company reported a 23.9 percent growth in net profit for the first quarter ended June 30.

The stock gained 2.83 percent to Rs 552.30 -- its 52-week high level at BSE.

On the NSE, it went up by 2.87 percent to touch its one-year high of Rs 552.30.

SKS Microfinance yesterday reported a 23.9 percent growth in net profit at Rs 61.1 crore for the first quarter ended June 30 as compared to the corresponding period in the previous fiscal.

The company earned a net profit of Rs 49.3 crore in the April-June quarter of 2014-15.

The total income of the company rose to Rs 282.6 crore during the quarter under review compared with Rs 168.9 crore in the same period last year, SKS Microfinance had said in a statement.

Loan disbursements increased 105 percent on a year-on-year basis to Rs 2,377 crore compared with Rs 1,160 crore in the same period a year ago.

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