Moneycontrol Bureau
Shares of SKS Microfinance rallied 7 percent intraday on Tuesday as its March quarter results impressed investors. The lender’s net profit grew 49 percent in Q4 to Rs 40.54 crore, while net interest income rose 47.6 percent.
Total income increased Rs 226.20 crore in the quarter ended March 31, 2015. Kotak expects its growth trajectory to remain strong with improving productivity and higher ticket size are likely to support profitability. The brokerage is positive on the business and says that possibility of it being converted to a bank (if granted a license) provides an upside.
Antique has set a target price of Rs 535 per share on exceptionally strong operating performance. It estimates a 36 percent AUM CAGR over FY15-17. It also feels that a bank license if granted by RBI will be a game changer for the stock.
At 10:32 hrs SKS Microfinance was quoting at Rs 486.75, up Rs 23.15, or 4.99 percent.
(Posted by Nasrin Sultana)
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
