SKS Microfinance Ltd. – Q2 Financial Results
Oct '2010

Q2 Financial Results

     
  • Revenue of Rs 373 crore for Q2-FY11 (up 75% Y-o-Y) and Rs 686 crore for H1-FY11 (up 78%  Y-o-Y)
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  • PAT of Rs 81 crore for Q2-FY11 (up 116% Y-o-Y) and Rs 147 crore for H1-FY11 (up 165%  Y-o-Y)
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  • Increased network to 2,407 branches, across 19 states
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  • Increased total number base to 7.8 million
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  • Incremental loan disbursements to Rs 3,171 crore for Q2-FY11 (up 61% Y-o-Y) and Rs 5,454 crore for H1-FY11 (up 69% Y-o-Y)
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  • Gross loan portfolio increased to Rs 5,434 crore (up 69% Y-o-Y basis), including assigned loans of Rs 486 crore
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  • Networth of Rs 1804 crore as at September 20, 2010
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  • Earnings per share (Basic, not annualized) at Rs 11.74

Hyderabad, October 22, 2010: The Board of Directors of SKS Microfinance Limited today met and approved the financial results of the Company (subject to Limited Review by the Statutory Auditors) for the quarter ended September 30, 2010.

Revenues increased 75% (Y-o-Y) in Q2-FY11 to Rs 373 crore, and 78% to Rs 686 crore in H1-FY11.

Profit after Tax (PAT) improved 116% (Y-o-Y) to Rs 81 crore in Q2-FY11 and Rs 147 crore in H1-FY11.

Incremental loan disbursements in the quarter ended September 30, 2010 (Q2-FY11) increased 61% (Year-on-Year basis) to Rs 3,171 crore and increased 69% to Rs 5,454 crore for the half year ended September 30, 2010 (H1-FY11). As a result the gross loan portfolio increased 69% to Rs 5,434 crore, including assigned loans of Rs 486 crore, as at September 30, 2010.

Earnings per share (Basic, not annualized) improved from Rs 7.77 as at the end of September 2009 to Rs 11.74 at the end of September 2010. On a diluted basis (not annualized), the earnings per share moved up from Rs 5.94 to Rs 10.99 over the corresponding periods.

About SKS Microfinance Limited:
  SKS Microfinance Limited (SKS) is a non-banking finance company (NBFC), registered and regulated by Reserve Bank of India, whose mission is to eradicate poverty by providing financial services to the poor.

SKS operates across 19 states of India. They include: Andhra Pradesh, Karnataka, Maharashtra, Orissa, Madhya Pradesh, Bihar, Uttar Pradesh, Rajasthan, Uttaranchal, Himachal Pradesh, Haryana, West Bengal, Jharkhand, Chhattisgarh, Gujarat, Kerala, Tamil Nadu, Punjab and Delhi.

SKS has been recipient of many received awards, which include Social and Corporate Governance Award by BSE, NASSCOM Foundation for Best Corporate Social Responsibility Practice (2007), Social Performance Reporting Award (MFIs) - Silver Category for Social Performing rating conducted by MIX market (2009) etc. SKS was founded by Dr Vikram Akula, who has been conferred the award of Young Global Leader by World Economic Forum and Business Transformation Entrepreneur of the Year by Ernst & Young (2010).  He was named by TIME magazine as one of the 100 Most Influential People in the World (2006).

For Further Information:
  SKS Microfinance
  Rashmi Krishnan
  Tel: 9959021137
  E-mail: Rashmi.krishnan@sksindia.com

Adfactors PR
  Hemang Palan
  Tel: 09920444940
  E-mail: hemang.palan@adfactorspr.com