Bharat Financial Inclusion Ltd PAT at Rs 211 cr, GLP rises 38%

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Hyderabad | Published: April 25, 2018 2:38:01 AM

Bharat Financial Inclusion Ltd (earlier known as SKS Microfinance Ltd) has reported profit-after-tax (PAT) of Rs 211 crore for Q4FY18, a growth of 29% quarter-on-quarter and Rs 455 crore in FY18, up 57% year-on-year.

Bharat Financial Inclusion Ltd (earlier known as SKS Microfinance Ltd) has reported profit-after-tax (PAT) of Rs 211 crore for Q4FY18Bharat Financial Inclusion Ltd (earlier known as SKS Microfinance Ltd) has reported profit-after-tax (PAT) of Rs 211 crore for Q4FY18

Bharat Financial Inclusion Ltd (earlier known as SKS Microfinance Ltd) has reported profit-after-tax (PAT) of Rs 211 crore for Q4FY18, a growth of 29% quarter-on-quarter and Rs 455 crore in FY18, up 57% year-on-year. It has posted a 38% year-on-year (YoY) growth and a 10% quarter-on-quarter growth in its gross loan portfolio (GLP) to Rs 12,594 crore in Q4FY18 as against Rs 9,150 crore in Q4FY17 and Rs 11,466 crore in Q3FY18.

“The portfolio growth has been primarily driven by the highest addition of customers in two consecutive quarters, which stood at 11.5 lakh in Q4-FY18 and 8.6 lakh in Q3-FY18, increasing our member base to 73 lakh in Q4-FY18,” MR Rao, CEO and MD, said in a statement. The company’s loan disbursements have shown a 22% quarter-on-quarter growth to Rs 5,738 crore in Q4FY18 (Rs 4,712 crore in Q3FY18) and 26% year-on-year growth to Rs 18,472 crore in FY18 as against Rs 14,667 crore in FY17. Cashless disbursements stood at 95% and 97% in FY18 and Q4FY18 respectively.

The company registered a cumulative collection efficiency of 99.8% for loans disbursed between January 1, 2017 and March 31, 2018, amounting to Rs 22,374 crore constituting 95% of its GLP as on March 31, 2018. Net NPA for the quarter stood at 0.1%. Marginal cost of borrowings reduced to 8.6% in Q4FY18 (8.9% in Q4FY17). Weighted average cost of borrowing was brought down to 9.3% in Q4FY18 (10.2% in Q4FY17).

The company reported a 46% year-on-year growth in incremental drawdowns to Rs 3,771 crore including assignment transactions Rs 1,617 crore and securitisation transaction of Rs 451 crore in Q4FY18. The company also originated Rs 586 crore under managed portfolio in Q4FY18. It had a net worth Rs 2,999 crore and a capital adequacy of 33.2% as of March 31, 2018 compared to the RBI requirement of 15% capital adequacy. Cash and cash equivalent stood at Rs 1,858 crore as of March 31, 2018. A MAT credit of Rs 4 crore has been recognised on the balance sheet in Q4FY18 with this accumulated MAT credit as on March 31, 2018 Rs 285 crore.

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