Ujjivan Financial Services registered a consolidated net profit of Rs 45 crore in the first quarter ended June compared to a loss in the corresponding period last year.

Ittira Davis, managing director & CEO of the company spoke to CNBC-TV18 about the results and the company's outlook.

Davis said that the customer growth in the microfinance industry has seen a bit of a decline in this quarter but that is not out of line with what we had planned.

He further said that he expects the company to see growth in the next three quarters.

Talking about the customer growth, Davis said, “Now that the ticket sizes have stabilized, we can look forward and say that the customer growth will be in 25-30 percent range.”

“By the end of this financial year we should have about 20 percent of our business coming from the non-microfinance institution sector and that will keep growing as we move forward,” he added.