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Fusion Micro Finance Q3 profit rises 23% to Rs 126 cr

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NewsDrum Desk
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New Delhi, Feb 5 (PTI) Fusion Micro Finance on Monday reported a 23 per cent increase in net profit to Rs 126 crore in the third quarter ended in December 2023 aided by higher interest income.

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The microfinance entity had earned a net profit of Rs 102 crore in the same quarter a year ago.

Its total income increased to Rs 613 crore in the quarter against Rs 467 crore in the year-ago period, Fusion Micro Finance said in a regulatory filing.

The interest income improved to Rs 540 crore from Rs 420 crore in the same quarter of the previous financial year.

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Net interest income (NII) increased 36 per cent to Rs 337 crore from Rs 248 crore in the same quarter a year ago.

Its asset under management (AUM) grew by 24 per cent to Rs 10,026 crore compared to Rs 10,693 at the end of December 2023.

The Gross Non-performing Assets (NPAs) of the company declined to 3.04 per cent as compared to 3.69 per cent at the end of December 2022. PTI DP MR

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