Bharat Financial Inclusion Q3 profit rises 49% YoY
This was on a 45% year-on-year growth in gross loan to Rs 16,651 crore.
By Atmadip Ray, ET Bureau |
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India's largest mictofinance company Bharat Financial Inclusion reported a 49% rise in net profit for December quarter at Rs 288 crore compared with Rs 193 crore in the year ago period.
This was on a 45% year-on-year growth in gross loan to Rs 16,651 crore.
The company, which is in its last leg of getting merged with IndusInd Bank, added 9.2 lakh customers in the quarter to 85.3 lakh.
“Bharat Financial Inclusion's sustainable growth of gross loan portfolio through healthy customer acquisition remains intact,” said chief executive M R Rao.
Its gross NPA ratio remained healthy at 0.6%, while Net NPA stood at 0.2% at the end of December last year.
This was on a 45% year-on-year growth in gross loan to Rs 16,651 crore.
The company, which is in its last leg of getting merged with IndusInd Bank, added 9.2 lakh customers in the quarter to 85.3 lakh.
“Bharat Financial Inclusion's sustainable growth of gross loan portfolio through healthy customer acquisition remains intact,” said chief executive M R Rao.
Its gross NPA ratio remained healthy at 0.6%, while Net NPA stood at 0.2% at the end of December last year.
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