Repco Micro Finance records 70 per cent growth in net profits and 48 per cent growth in loan outstanding.
Releasing the financial results, R.S. Isabella, MD, Repco Micro Finance said, Repco Micro Finance has recorded a growth of 48% in Micro Finance pegging at Rs.700 cr. for the Financial Year 2017-18 and recorded a Net Profit growth of 70% and crossed Net Worth of Rs.100 cr.,
During the last Financial Year ending 2017-18, the Company has crossed milestone business of Rs.700 cr., earned a total income of Rs.114 crore and Net Profit of Rs.29 crore with a customer base of over 3 lakh beneficiaries comprising 45000 Self Help Groups spread across Tamilnadu.
The company is operating in 31 districts in Tamilnadu through its 80 branches. The company has an efficient recovery mechanism in place which led to lowest GNPA of 0.79% and NIL Net NPA.
During the last year, the company also contributed to CSR activities such as construction of toilets, sponsorship of artificial limbs, construction of classrooms in schools where underprivileged are studying etc., The company has robust systems and procedures and risk management processes in place and is one of the top rated Micro Finance institution in the country.
As a part of its expansion programme, the company is marching towards Rs.1000 crore of business with 100 branches extending the demography in Kerala, Karnataka, Orissa and Ptiducherry during the next Financial Year 2018-19.