Bharat Financial Inclusion reports net loss of Rs. 37 crore in Q1FY18
DSIJ Intelligence / 26 Jul 2017
The company’s net interest income (NII) for Q1FY18 rose 1.5 per cent / 16.2 per cent QoQ / YoY to reach at Rs. 236.25 crore.
Bharat Financial Inclusion Ltd. formerly known as SKS Microfinance has reported its first quarter result of financial year 2017-18.
The company’s net interest income (NII) for Q1FY18 rose 1.5 per cent / 16.2 per cent QoQ / YoY to reach at Rs. 236.25 crore.
The provisions for the quarter swelled to Rs. 175.8 crore vs Rs. 12.02 crore in the same quarter of last year. However, looking at QoQ, its provisions saw decline of 47.4 per cent from Rs. 334.5 crore in Q4FY17.
Looking at company’s bottom-line, company reported net loss of Rs. 37.05 as compared to net profit of Rs. 235.9 crore in the same quarter of last year. However, in QoQ comparison, the company managed to trim its losses from Rs. 234.9 crore in Q4FY17.
Company has healthy capital adequacy ratio of 31.8%. Further, the company reiterated its earlier guidance of Rs. 435 crore profit after tax for FY18.
Bharat Financial Inclusion Limited is among the largest microfinance companies in India with presence across 18 states covering 1,00,000 villages. The states include: Karnataka, Maharashtra, Odisha, Madhya Pradesh, Bihar, Uttar Pradesh, Rajasthan, Uttaranchal, Haryana, West Bengal, Jharkhand, Chhattisgarh, Kerala, Punjab, Himachal Pradesh and Delhi.
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