SKS Microfinance on Thursday announced its return to profitability with a net profit of R1.2 crore in Q3, reversing the trend of seven consecutive quarters of loss making. The company had incurred a loss of R262 crore in Q2 and a loss of R428 crore in Q3 last fiscal.
SKS sustained its growth momentum in non-Andhra Pradesh states with its interest income in those states increasing by 16% to R79 crore in Q3 from R68 crore in Q2 (R82 crore in Q3-FY12). The company?s loan disbursements rose by 14% from R690 crore in Q2 to R784 crore in Q3 as its non-AP portfolio grew by 9% from R1,372 crore to R1,496 crore during the period. Collection efficiency in 17 non-AP states continues to be robust at 99.8%. The growth momentum has been accelerated on account of the increasing supply-side support.
S Dilli Raj, SKS Microfinance CFO, said, ?By returning to profitability, we have emerged out of the Andhra Pradesh microfinance crisis.?
