Fusion Micro Finance Q2 Profit Soars 32% to Rs 126 Crore

New Delhi, Nov 6 (PTI) Fusion Micro Finance on Monday reported a 32 per cent increase in net profit to Rs 126 crore in the second quarter ended September 2023, mainly driven by higher interest income.

The microfinance entity had posted a net profit of Rs 95 crore in the same quarter a year ago.

Its total income increased to Rs 571.26 crore in the second quarter against Rs 452.3 crore in the year-ago period, Fusion Micro Finance said in a regulatory filing.

The interest income improved to Rs 496.80 crore from Rs 399.76 crore in the same quarter of the previous financial year.

Net interest income (NII) increased 26.33 per cent to Rs 304.54 crore from Rs 241.07 crore in the same quarter a year ago.

Its asset under management (AUM) grew by 25 per cent to Rs 10,026 crore compared to Rs 8,047 at the end of September 2022.

The capital adequacy ratio of the firm further improved to 28.78 per cent as against 20.97 per cent at the end of September 30, 2022.