SKS Microfinance registers 41% increase in portfolio outstanding in Q4-FY14

SKS Microfinance has reported a 41% year-on-year increase in the non-Andhra Pradesh portfolio to Rs. 2,837 crore in Q4-FY14 from Rs. 2,016 crore in Q4-FY13 (Rs. 2,364 crore in Q3-FY14).  The company has also registered a 27% increase in PAT to Rs. 27.1 crore in Q4-FY14 from Rs. 21.4 crore in Q3-FY14. This is the Company’s sixth consecutive quarter of profit post its turnaround in Q3-FY13. Loan disbursements grew to Rs. 1,580 crore in Q4-FY14 from Rs. 1,399 crore in Q3-FY14 (Rs.1,295 crore in Q4-FY13). The Company had incremental draw-downs of Rs.1,713 crore in Q4-FY14. The company had a net worth of Rs. 459 crore and capital adequacy of 27.2% (20.7% without taking RBI dispensation on provision for the Andhra Pradesh portfolio) as of March 31, 2014. Cash and bank balances stood at Rs. 671 crore. SKS Microfinance (SKS) is a non-banking finance company (NBFC), registered and regulated by the Reserve Bank of India, whose mission is to provide financial services to low-income households. SKS operates across 16 states of India.