Bharat Financial Inclusion Q4 profit jumps 50% to Rs 321 cr

Microfinance lender Bharat Financial Inclusion Ltd reported a 50 percent jump in its net profit at Rs 321 crore for the quarter ended March 2019.

The company had registered a net profit of Rs 211 crore in the corresponding period of the previous fiscal, the company said in a BSE filing.

Total income from operations rose to Rs 851.01 crore in the January-March quarter from Rs 646.17 crore in the year-ago quarter, the filing said.

Bharat Financial Inclusion also reported a 38 percent year-on-year growth in its Gross Loan Portfolio to Rs 17,394 crore in the fourth quarter of FY 2018-19.

"Bharat Financial Inclusion Limited continues to sustain its Gross Loan Portfolio growth through healthy addition of customers," said M R Rao, CEO and Managing Director, Bharat Financial Inclusion Limited. "We added 9.6 lakh customers in Q4-FY19 vis-a-vis 9.2 lakh customers in Q3-FY19," he added.