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SKS Microfinance Q2 net jumps three-fold

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Press Trust of India, September 28, 2010 (New Delhi)

SKS Microfinance Ltd on Tuesday recorded over three-fold jump in profit at Rs. 67 crore for the the quarter ended June 30, 2010. The microfinance institution had a net profit of Rs. 18 crore in the same quarter a year ago.

The total income increased 82 per cent to Rs. 314 crore, compared with Rs. 172 crore as on June 30, 2009, SKS Microfinance said in a statement.

The gross loan portfolio of the company was Rs. 4,578 crore as on June 30, 2010, it said.

Commenting on the results, SKS Microfinance chairman Vikram Akula said the true measurement of growth for SKS is the 73 lakh poor households who have been empowered socio-economically. The network expanded to 2,266 branches as on June 30, 2010, from 1,436 branches as on June 30, 2009.

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