Spandana Sphoorty Financial a meeting of the management committee of the board of directors is scheduled to be held on Thursday, 10 March 2022 to consider fund raising plans.
The funds would be raised via the issue of non-convertible debentures (NCDs) on a private placement basis. The announcement was made after trading hours yesterday.
Spandana Sphoorty Financial is a rural-focused non-banking financial company and a microfinance lender (NBFC-MFI) with a geographically diversified presence in India.
The company reported a consolidated net profit of Rs 45.1 crore in Q3 FY22 as against a net loss of Rs 29.7 crore in Q3 FY21. Total income during the quarter rose 2% YoY to Rs 349.9 crore.
The scrip rose 0.76% to currently trade at Rs 333.60 on the BSE.
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