The largest private small scale lender of India SKS Microfinance has announced its financial results for the second quarter of the year. It has informed that there has been a hike of almost 116% in its net profit in the quarter under review.

For the quarter that ended on 30th of September, the net profit has been recorded at Rs. 80.54 crore. For the similar quarter in the previous year it was found out to be Rs. 37.35 crore.

The total income of the company has gone up by 77% and has touched Rs. 366.56 crore during this quarter. It was reported to be Rs. 207.49 crore for the same quarter in the preceding year. This has been informed by the company in a regulatory filing.

Moreover, recently the company had came up with its initial public offering by which it was been able to raise more than Rs 1600 crore. SKS had offered 168 lakh shares as its IPO at Rs 985 a share earlier. SKS is the only private microfinance company which is listed in the exchange.