NEW DELHI: Bharat Financial Inclusion (formerly SKS Microfinance) today said its profit after tax profit fell by 18.49 per cent to Rs 119 crore in the second quarter this fiscal.
The net profit in the corresponding July-September quarter in 2016-17 stood at Rs 146 crore, the company said in BSE filing.
The net interest income increased 13 per cent year-on- year to Rs 261 crore in the second quarter compared to corresponding period last fiscal.
The company also said it reported a healthy addition of 6.3 lakh members in July-September quarter as against 4.2 lakh members in April-June quarter.
It said marginal cost of borrowings has remained stable at 8.9 per cent on a quarter-on-quarter basis, while weighted average cost of borrowing reduced to 9.8 per cent in the quarter.
The company said it registered 17 per cent year-in-year growth in gross loan portfolio to Rs 10,597 crore as on September 30, 2017.
Bharat Financial Inclusion Limited said it has a net worth of Rs 2,561 crore and a capital adequacy of 31 per cent as of September 30, 2017 compared to the RBI requirement of 15% capital adequacy.
Cash and cash equivalent stood at Rs 1,651 crore as of September 30, 2017, it said.