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Bharat Financial clocks 34% loan growth in Q3
Bharat Financial Inclusion Ltd (erstwhile SKS Microfinance) on Tuesday announced financial results for the third quarter of FY18. It reported a 34 per cent year-on-year growth in its gross loan portfolio to Rs11,466 crore during the quarter from Rs10,597 cr in second quarter. It was Rs8,531 crore in third quarter of previous fiscal.
Hyderabad: Bharat Financial Inclusion Ltd (erstwhile SKS Microfinance) on Tuesday announced financial results for the third quarter of FY18. It reported a 34 per cent year-on-year growth in its gross loan portfolio to Rs11,466 crore during the quarter from Rs10,597 cr in second quarter. It was Rs8,531 crore in third quarter of previous fiscal.
MR Rao, CEO and MD, Bharat Financial Inclusion Ltd, said: “The Gross loan portfolio growth is primarily led by an impressive increase in member base, showcasing the sustained member acquisition efforts of the management.
In Q3, our borrower base shown a quarter-on-quarter growth of eight per cent to 58 lakhs as against 53 lakhs in Q2, while the CAGR for borrower growth for the 2007- 2017 decade stood at 25 per cent.”
The company also originated Rs217 crore under managed portfolio in Q3-FY18. Bharat Financial Inclusion’s profit after tax (PAT) for Q3-FY18 stood at Rs163 crore. Net NPA fell to 0.2 per cent in Q3-FY18 from 0.3 per cent in the second quarter. Marginal cost of borrowings fell to 8.5 per cent in Q3-FY18 from 8.9 per cent.
