Spandana Sphoorty Financial tumbled 4.64% to Rs 725.25 after the microfinance lender reported a consolidated net loss of Rs 29.72 crore in Q3 FY21 compared with net profit of Rs 129.53 crore in Q3 FY20.
Total income fell 4% year-on-year (YoY) to Rs 344.26 crore during the quarter. Impairment charge on financial instruments and other provisions stood at Rs 199.93 crore in Q3 December 2020, steeply higher than Rs 41.54 crore in Q3 December 2019.
The company reported a pre-tax loss of Rs 36.56 crore in Q3 FY21 as against a pre-tax profit of Rs 175.80 crore in Q3 FY20. Current tax outgo declined by 87.5% YoY to Rs 3.23 crore during the period under review.
Spandana Sphoorty Financial is a non-banking financial company - micro finance institution (NBFC-MFI).
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app