AMIL Achieves Break-Even
Agora Microfinance India Limited has registered its first profits for the quarter ended December 2015, and also for each month since achieving monthly break-even in September 2015. Buoyed by increasing scale, strong portfolio quality and high efficiency, this milestone has been achieved relatively early in AMIL’s journey. AMIL is now in its 4th full year of operations, and works with just under 10,000 clients and a loan portfolio of Rs 12.2 crores (US$ 2 million approx).
Commenting on the achievement, Meenal Patole, CEO said “achieving break-even is a key milestone for AMIL as it demonstrates a viable model in urban lending in India. This will help accelerate our growth making it attractive to both investors and lenders. We look forward to new strategic partnerships for building on this strong foundation in the coming months and years.”
In the words of Ramakrishna Sahu, Operations Manager, “With the current foundation it is possible for AMIL to grow at a fast rate while maintaining quality, as we have now established good standards in operations”.
For more information, please visit www.amil.co.in