SKS microfinance posts profits

SKS Microfinance Limited posted a profit of Rs. 5 crore in the first quarter ending June 30, 2013. It is the third consecutive quarter profit, post its turnaround, according to a press release from the non-banking finance company.

The company had incurred a loss of Rs. 39 crore in the corresponding quarter of the previous financial year. The total revenue increased to Rs. 123 crore in the quarter ending this June against Rs. 79 crore in the corresponding quarter of the previous financial year.

“Öur third consecutive quarter of profit is a result of our team’s tireless efforts, ”, said S. Dilli Raj, Chief Financial Officer, SKS Microfinance Limited.