Fusion MicroFinance Q2 Results: Net profit at Rs 95 crore on improved repayment collection efficiency

The net profit was Rs 3.2 crore in the year-ago period.

The NBFC-MFI got its equity shares listed on the stock exchanges earlier this month.

Its interest income was at Rs 399.9 crore for the reporting period against Rs 230 crore a year back. Total Income was at Rs 453 crore against Rs 267 crore. Net interest income rose 118% to Rs 241 crore.

The lender’s asset under management (AUM) grew 54.5% year-on-year to Rs 8047 crore. Disbursements during the quarter rose 27.4% to Rs 2052 crore.

Gross non-performing assets ratio fell to 3.83% at the end of September from 4.36% z tea back. Net NPA was at 1.12% against 1.35%.

Fusion announced its results late in the Monday evening. It’s share prices closed 4% up at Rs 375.50 on BSE while Sensex scaled a new high and closed above 62,500.

Fusion’s shares listed at a 2% discount at Rs 360.50 on the BSE. The issue price for it’s initial public offering was Rs 368. The size of the IPO was Rs 1,104 crore including fresh issue of shares as well as offer for sale of existing shares.

The board of directors of the company also approved a plan to raise up to Rs 145 crore in bonds.

Incorporated in 1994, Fusion is engaged in offering unsecured loans to women in the economically weaker section for setting up small business ventures.