Bharat Financial reports 50 pct jump in Q4 net profit at Rs 321 crore

Microfinance lender Bharat Financial Inclusion Ltd Tuesday reported a 50 per cent 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 per cent 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.