Spandana Sphoorthy board approves NCD issue worth Rs 290 cr

The board of Spandana Sphoorthy Financial approved the issuance of secured non-convertible debentures (NCDs) up to Rs 290 crore on private placement basis.

Spandana Sphoorthy Financial reported 40.7% fall in consolidated net profit to Rs 49.27 crore on 9.2% rise in total income to Rs 480.29 crore in Q4 FY21 over Q4 FY20.

Spandana Sphoorty Financial is a non-banking financial company - micro finance institution (NBFC-MFI). The company is primarily engaged in the business of micro finance providing small value unsecured loans to low-income customers in semi-urban and rural areas.

Shares of Spandana Sphoorthy Financial gained 0.47% to Rs 692 on BSE. The stock traded in the range of Rs 680.10 to Rs 696.20 during the day.

 

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