SKS Microfinance launches operation in Tamil Nadu
- Monday, November 23, 2009, 23:21
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Microfinance Focus, Nov. 23, 2009: S Dilli Raj, chief financial officer, SKS Microfinance, launched the company’s operation in Tamil Nadu on Monday in Chennai.
On the occasion, he noted that for the year 2009-10, the company had already tied up funds for Rs 2,000 crore, and another around Rs 1,300 crore will be raised.
Hyderabad-based SKS Microfinance plans to raise funds mainly through capital market debt instruments. For the current financial year, the company’s fund requirement is Rs 5,000 crore, of this Rs 1,715 crore has already been raised. The company’s cumulative disbursement stands at Rs 10,538 crore now and portfolio outstanding at Rs 3,389 crore, he said.
The company reported a profit after tax of Rs 55 crore for six months ended September 30. Currently, the company has an equity of $175 million. Its capital adequacy was around 25 per cent, he added.
© 2009, Microfinance News. All rights reserved. 2008-09
2 Comments on “SKS Microfinance launches operation in Tamil Nadu”
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Good for Tamilnadu. At the same time please concentrate on small industries working here in the state. SMEs Loan is popular demand here. Opportunities here but there is scarcity of Funds also prevails…
This is the correct time to choose the area and concentrate the suitable persons in tamilnadu, all the best