Bharat Financial Inclusion surges over 11 per cent on superb results

Bharat Financial Inclusion, formerly known as SKS Microfinance has posted remarkable financial results in Q1FY17.Total income from operations stands at Rs 368.96 crores. Total income has increased by a whopping 53 per cent as compared to Q1FY16. EBITDA stands at Rs 232.14 crores, which also increased by 66 per cent as compared to Q1FY16.

Company has posted a strong bottomline in Q1FY17, it has recorded a net profit of Rs 235.91 and has increased remarkably by 286 per cent/ 4 times as compared to corresponding  quarter of the previous fiscal.

On July 22, the shares closed at Rs 844.90 which has increased by 16 per cent as compared to its previous close. The scrip in the last 3 months has given a result of 45 per cent.On July 13, the scrip performed in a similar fashion when some media houses reported that the company is in talks with investment banks to raise up to Rs 600 crores through a qualified institutional placement (QIP).

On July 21, company informed BSE, that it has granted 1,43,100 stock options, which would get converted into 1,43,100 equity shares. Company has fixed the exercise price of Rs. 782.15 per share.

The company was formerly known as SKS Microfinance and is engaged in providing micro finance services to individuals from poor segments of rural India. Company offers people, access to basic financial services, such as loans, savings, money transfer services and micro insurance.