Microfinance Focus, September 28, 2010: India’s largest microfinance institution, SKS Microfinance has announced a 265% increase in its Profits After Tax (PAT) at INR 67 crores for the first quarter ended June 30, 2010, over the corresponding period a year ago.

The company’s income from microfinance activities rose 92% to INR 284 crores from INR 148 crores in the same period in financial year 2009.

During the quarter SKS made a public issue of 16,791,579 Equity Shares of Rs.10 each for cash consisting of a fresh issue of 7,445,323 Equity Shares at a premium of Rs.975 per equity share to Qualified Institutional Bidders and Non-institutional Bidders and at a premium of Rs.925 per equity share to Retail Individual Bidders. An offer for sale of 9,346,256 equity shares at premium of Rs.975 per equity share to Qualified Institutional Bidders and Non-institutional Bidders and at a premium of Rs. 925 per equity share to Retail Individual Bidders was also made.