Shares of Bharat Financial Inclusion, formerly know as SKS Microfinance rose more than 8 per cent to hit 52-week high on Friday after the company reported strong Q1 numbers for the quarter ended June 30, 2016.
The company reported net profit of Rs 236 crore in Q1-FY17. The Company also recognized a MAT credit of Rs. 97 crore as on March 31, 2016.
The Company has an un-availed deferred tax benefit of Rs. 308 crore which will be available to offset tax on future taxable income.
As of June 30, 2016, the Company had a net worth of Rs. 1,627 crore and a capital adequacy of 23.2%. Cash and cash equivalents stood at Rs. 762 crore.
During the quarter, the Company added 7.7 lakh borrowers and ended the quarter with a borrower base of 50.9 lakhs (10% increase QoQ and 38% increase YoY). Employee strength increased to 14,559.
Shares of the company were seen trading at Rs 827, higher by 8.32 per cent on BSE at 12.05 pm IST. It touched an intra-day high and 52-week high at Rs 830.50 during trade.