Bharat Financial reports Rs 235 cr Q4 loss

Huge increase in provisions and write-offs at Rs 335 cr; firm has posted Rs 84 cr profit a year ago

Hyderabad-based microfinance lender Bharat Financial Inclusion has reported a net loss of Rs 235 crore in the January-March quarter of the previous financial year, while it earned a net profit of Rs 84.47 crore in the same quarter a year ago.

The loss is mainly due to the drastic increase in the provisions and write-offs at Rs 334.5 crore in the quarter under review when compared to Rs 13.9 crore in the corresponding quarter previous financial year.

The company's net profit declined 4.4 per cent to Rs 289.69 crore in the financial year 2016-17 from Rs 302.98 crore during the previous