Bharat Financial Inclusion Limited, the largest microfinance company in India, today announced a 38% year-on-year growth (a 4% quarter-on-quarter growth) in its Gross Loan Portfolio to Rs.17,394 crore in Q4-FY19 (Rs. 12,575 crore in Q4-FY18; Rs. 16,651 crore in Q3-FY19).
"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."
The Company's loan disbursements have shown a 45% year-on-year growth to Rs 26,699 crore in FY19 (Rs. 18,472 crore in FY18), while disbursements for Q4-FY19 have shown a 14% yearon-year growth to Rs 6,568 crore in Q4-FY19 (Rs. 5,738 crore in Q4-FY18; Rs. 6,822 crore in Q3-FY19).
Incremental drawdowns of Rs. 8,471 crore including assignment transactions in Q4-FY19 (Rs. 3,771 crore in Q4-FY18; Rs. 5,510 crore in Q3-FY19). The Company also originated Rs.1,297 crore under managed portfolio in Q4-FY19. Five assignment transactions, amounting to Rs. 5,168 crore, were completed in Q4-FY19.
The Company's cost to income was at 35.9% in Q4-FY19 (34.4% in Q3-FY19). Marginal cost of borrowings stood at 9.5% in Q4-FY19 while weighted average cost of borrowing was at 9.8%. The Company registered a cumulative collection efficiency of 99.7% for loans disbursed between January 1, 2017 and March 31, 2019, amounting to Rs. 49,073 crore. The Company had a net NPA of 0.2% in Q4-FY19.
Bharat Financial Inclusion Limited had a net worth of Rs. 4,225 crore (higher by Rs. 241 crore compared to GAAP net worth) and a capital adequacy of 49.5% as of March 31, 2019 (compared to the RBI requirement of 15% capital adequacy). Cash and cash equivalent stood at Rs. 1,562 crore as of March 31, 2019.
As per Ind AS, Bharat Financial Inclusion Limited's profit after tax in Q4-FY19 registered a 50% year-on-year and a 11% quarter-on-quarter growth to Rs. 321 crore (Rs. 211 crore in Q4-FY18; Rs. 288 crore in Q3-FY19). As per Ind AS, PAT in FY19 grew by 67% year-on-year to Rs. 985 crore (Rs. 589 crore in FY18).
As per previous GAAP, PAT in Q4-FY19 stood at Rs. 226 crore (Rs. 243 crore in Q3-FY19). As per previous GAAP, PAT in FY19 grew by 91% year-on-year to Rs. 871 crore (Rs. 455 crore in FY18) vis-à-vis PAT guidance of Rs. 620 crore.
Shares of Bharat Financial Inclusion Ltd was last trading in BSE at Rs.953.95 as compared to the previous close of Rs. 892.7. The total number of shares traded during the day was 114430 in over 4336 trades.
The stock hit an intraday high of Rs. 964.7 and intraday low of 865.45. The net turnover during the day was Rs. 105435977.