Bharat Financial Inclusion (formerly SKS Microfinance) has posted a profit of Rs 143 crore in the third quarter as against Rs 146 crore in the previous three-month period. However, its gross loan portfolio excluding the states of Andhra Pradesh and Telangana, registered a 38% year-on-year growth to Rs. 8,531 crore in Q3 as against Rs 6,177 crore in Q3 of FY16.
“The technology upgradation is the fruition of the relentless efforts of our teams in the last couple of years, driven by the realization that such initiatives herald immense gains for our borrowers,” MR Rao, CEO and MD, said. “We are already the most efficient global MFI with the lowest lending rate of 19.75%,” he added.