Loan disbursement was up 105 per cent at Rs.2,377 crore. Hyderabad, Aug 05, 2015 SKS Microfinance Limited has posted a net profit of Rs. 61.2 crore for the first quarter ended June 30, 2015 as against Rs. 49.3 crore for the corresponding quarter last year. The company announced its gross loan portfolio excluding Andhra Pradesh and Telangana registered a 15 per cent quarter on quarter growth of Rs. 4,797 crore in the first quarter as against Rs. 4171 crore in Q1 last fiscal. Loan disbursement was up 105 per cent in Q1 at Rs. 2,377 crore (Rs 1160 crore). According to SKS, cost-to-income reduced to 52.3 per cent in the first quarter as against 59.4 per cent same period last year, with the interest bearing liabilities at 11.9 per cent.
The interest rate charged to the borrowers was reduced from 23.55 per cent to 22 per cent with effect from July 1, 2015. SKS issued commercial papers of an aggregate amount of Rs. 405 crore and non-convertible debentures totalling Rs. 200 crore in Q1. The company completed securitisation worth Rs. 84 crore and originated Rs. 243 crore of loans under managed portfolio. The company mentioned that the unavailed deferred tax benefit of Rs. 460 crore and minimum alternate tax (MAT) credit of Rs. 21 crore will be available to offset tax on future taxable income. SKS Micro has a net worth of Rs. 1115 crore and capital adequacy of 27.2 per cent and cash and cash equivalents of Rs. 772 crore. SKS shares closed at Rs. 537.05, up 1.62 per cent.
