Fusion Micro Finance Q3 results: Profit rises 23% to Rs 126 crore

Fusion Micro Finance on Monday reported a 23 per cent increase in net profit to Rs 126 crore in the third quarter ended in December 2023 aided by higher interest income.

The microfinance entity had earned a net profit of Rs 102 crore in the same quarter a year ago.

Its total income increased to Rs 613 crore in the quarter against Rs 467 crore in the year-ago period, Fusion Micro Finance said in a regulatory filing.

The interest income improved to Rs 540 crore from Rs 420 crore in the same quarter of the previous financial year.

Net interest income (NII) increased 36 per cent to Rs 337 crore from Rs 248 crore in the same quarter a year ago.

Its asset under management (AUM) grew by 24 per cent to Rs 10,026 crore compared to Rs 10,693 at the end of December 2023.

The Gross Non-performing Assets (NPAs) of the company declined to 3.04 per cent as compared to 3.69 per cent at the end of December 2022.