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Bharat Financial Inclusion (BFIL), formerly SKS Microfinance, has reported ₹235-crore loss in the fourth quarter ended March 31. The company earned a net profit of ₹84 crore in the same period last year.
The loss was because the company “has chosen to be conservative and continues with its eight-week NPA classification and provisioning policy,’’ it said in a release. For the full year, it registered ₹290-crore profit as against ₹303 crore in the previous year.
Loan disbursements grew to ₹14,667 crore in FY17 as against ₹12,088 crore in the previous year.
Its gross loan portfolio, excluding Andhra Pradesh and Telangana, registered a 19 per cent year-on-year growth to ₹9,150 crore (₹7,677 crore).
The board of directors of the company has decided to explore the complete spectrum of strategic options, including merger, reverse merger, bringing on board a strategic investor and making a strategic acquisition, in order to pursue growth opportunities benefiting all key stakeholders in a rapidly changing financial inclusion environment.
Bharat Financial Inclusion’s scrip fell 2.19 per cent on the BSE on Tuesday to end at ₹787.
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