Bharat Financial Q1 net loss at Rs 37 cr on elevated provisions, fin costs

However, on a sequential basis, there is a marked decline in net loss as well as provisioning in Q1

Microfinance company Bharat Financial Inclusion (BFIL) has reported a net loss of Rs 37.05 crore for the quarter ended June 2017, impacted by the elevated levels of provisions and the financial costs in the second consecutive quarter (Q). BFIL's net profit stood at Rs 235.91 crore in the same quarter year-on-year.

The micro lender has registered an 11.8 per cent growth in total revenues at Rs 463.08 crore in Q1 as compared to Rs 414.11 crore in the year-ago period.

However, total expenses rose 81.8 per cent to Rs 500.13 crore as the provisions towards loan defaults jumped to Rs 175.89 crore as