Bharat Financial
Small loan provided SKS Microfinance hit a new high on the back of strong Q1FY16 earnings. The company reported 22% QoQ rise in Q1FY16 revenue to Rs. 241 crore, despite 5% lower disbursement sequentially to Rs. 2,377 crore, while PAT jumped 51% QoQ to Rs. 61 crore, as operations became more efficient and provisions and write-offs contracted by a third sequentially, to only Rs. 7 crore. EPS for first quarter ended 30th June 2015 stood at Rs. 4.48, up from Rs. 4.29 in Q1FY15 and from Rs. 3.21 in Q4FY15.
Company’s non-AP/ non-Telangana loan portfolio ballooned 15% QoQ to Rs. 4,797 crore while networth increased to Rs. 1,115 crore, as of 30-06-15. With effect from 1-7-15, company has become MFI-NBFC charging the lowest interest rate of 22% pa on its core income generating loans, down from 23.55% earlier.
With financial performance improving every passing quarter, investor confidence in the company and its management is only rising, which is so well reflected in the stock performance, which has doubled in the past 12 months.