Bharat Financial surges 10 percent on impressive Q1


HYDERABAD, JULY 22: Backed by strong Q1 numbers, the scrip of Bharat Financial Inclusion (BFI), formerly SKS Microfinance, surged 10.58 per cent to end at ₹844.90 on the BSE on Friday.
The micro-lender will also infuse capital up to ₹750 crore and increase its authorised share capital to ₹170 crore from ₹155 crore. The AGM of the company held on Thursday had passed a resolution to this effect, the BSE was informed.
According to the results declared on Thursday, BFI’s net profit more than doubled at ₹139 crore in the first quarter ended June 30, 2016, compared to ₹61 crore in the corresponding quarter of the previous financial year.
Total revenue too grew at ₹414 crore as against ₹283 crore in the year-ago period.

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