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Shares of SKS Microfinance rose over eight per cent in early trade today, after the company reported a net profit of Rs 1.2 crore for the third quarter ended December 31, 2012.
Cheering the encouraging numbers, the shares of the country’s only listed micro-finance company opened the day on a strong note and further jumped 8.4 per cent to Rs 178 on the BSE. Similarly, on the NSE, the scrip rallied 8.48 per cent to Rs 177.70.
In the October-December quarter of 2011-12, SKS had posted a loss of Rs 428 crore.
The company has earned profit after seven consecutive quarters of losses on account of rise in advances.
During the quarter, the total income fell to Rs 85 crore from Rs 83.82 crore, the company had said in a statement yesterday.
SKS’s provisions against bad loans during the quarter declined to 28.36 lakh against Rs 358.66 crore in the same period a year ago.
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