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The company's cost of borrowing is at 9.2 percent currently, same as the fourth quarter of last fiscal year, said PH Ravikumar, Non-Executive Chairman, Bharat Financial Inclusion. He said it can decline by 25-50 basis points (bps) going ahead.
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Assets under management (AUM) stood at Rs 7676 crore, up 84 percent year-on-year (YoY), while the gross non-performing assets (GNPA) decreased to Rs 4.1 crore against Rs 6.3 crore sequentially.
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"The worst of El Nino is behind us, so the weather this year should also be better," says PH Ravikumar, Chairman, SKS Microfinance.
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Dilli Raj, president, SKS Microfinance says the company's asset under management (AUM) will grow by 50 percent.
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The company has received a refinance line of Rs 100 crore at 10 percent per annum from Micro Units Development & Refinance Agency Limited (MUDRA).
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In an interview with CNBC-TV18, President S Dilli Raj said the company's business had crossed Rs 5,434 crore in loan portfolio.
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SKS Microfinance Limited today announced a 1.25 percent cut in interest rates charged to its borrowers from 22% to 20.75% effective from October 01, 2015.
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SKS plans to raise capital of up to Rs 400 crore in the next financial year with a maximum dilution of 20 percent as it sets out to create SKS Microfinance 3.0
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SKS had guided a profit of around Rs 55-60 crore for FY14 post Q1 numbers. The company has already generated about Rs 42 crore profit in the first nine months. For the company, the fourth quarter is the best quarter. Dilli Raj, the CFO expects a slight positive surprise on PAT level for FY14.
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Biksham Gujja, Chairmam of SKS Trust, says it is a straightforward request that a 12.6 percent shareholder needs to get a board seat and he fails to see the objections to it. He has not yet received any formal response on nominating Vikram Akula on the board.
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SKS Microfinance is hopeful of recovering at least Rs 300 crore out of the Rs 1300 crore of loans it had written off in its Andhra Pradesh portfolio, Chief Financial Officer Dilli Raj said in an interview to CNBC-TV18 today.
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Dilli Raj, CFO, SKS Microfinance, says that the company does not require capital for the next three years. Our capital adequacy is 37 percent. So we have formed a growth capital to fund the growth for the next three years.
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SKS Microfinance has slipped 5% to Rs 114 after reporting a net loss of Rs 262 crore for the quarter ended September 2012 as compared to loss of Rs 39 crore in previous quarter due to higher provisioning.
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Dilli Raj, chief financial officer of SKS Microfinance says, the company should revert to the path of profitability by Q3.
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Dilli Raj, CFO, SKS Microfinance, explains to CNBC-TV18, that the company will be in the black by the third quarter. Raj adds that the subscribers of the IPO issued by the company are primarily foreign institutional investors with some participation from domestic investors.
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PH Ravikumar, interim non-executive chairman, SKS Microfinance Ltd explains to CNBC-TV18 that the tabling of the Microfinance Bill in the Budget Session of Parliament has increased hopes of recovering the amount written off in Andhra Pradesh.
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Dili Raj, chief financial officer of SKS Microfinance tells CNBC-TV18 that there is a high probability of the MFI bill getting passed this time. “Once the MFI Bill is passed, it will override the AP MFI Act,” Raj says.
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In an interview to CNBC-TV18, Dilli Raj, chief financial officer of SKS Microfinance says, the company will launch qualified institutional placement (QIP) by end of this fiscal. "We would like to rasie Rs 500 crore via QIP," he adds.
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PH Ravikumar, non- executive chairperson - interim, SKS Microfinance says, loan securitisation is a part of ongoing fund raising exercise. He expects a qualified institutional placement (QIP) by month-end.
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Shares of SKS Microfinance, India's largest and only listed microfinance company, fell over 8% in opening trades after it posted a third consecutive quarter of loss.
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Country's sole listed microfinance institution (MFI), SKS Microfinance would be diversifying into new areas and has already sought board’s approval for the same.
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The Reserve Bank of India (RBI) on Friday said it was introducing micro-finance institutions (MFIs) as a new category of non-banking finance companies. Calling it a step forward, PH Ravikumar, Interim Non-Executive Chairman of SKS Microfinance said the new guidelines will help repeal the Andhra Micro Finance Act.
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Vikram Akula, founder of SKS Microfinance resigned from the board yesterday. PH Ravikumar, an independent director on the board of SKS India and former chief executive officer of NCDEX is taking over as the interim non-executive chairman of the only listed microfinance instiutution.
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SKS Microfinance has declared its second quarter results. The company recently approved fund raising plans of up to Rs 900 crore. Dili Raj, chief financial officer of SKS Microfinance says, the capital is not for capital adequacy, but for growth.
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SKS Microfinance gained 20% today after the MFI development and regulation bill which seeks to make RBI the sole overseer for the micro finance industry, overriding state laws. Dili Raj talks to CNBC-TV18 about its advantages to the company.
