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Spandana Sphoorty Q2 PAT rises 46% YoY

Capital Market 

Spandana Sphoorty Financial reported 46% jump in consolidated net profit to Rs 66.76 crore on 3.4% decline in total income to Rs 354.11 crore in Q2 FY21 over Q2 FY20.

Impairment on financial instruments and other provisions soared to Rs 122.12 crore in Q2 FY21 compared with Rs 21.02 crore in the same period last year.

Pre-tax profit in Q2 FY21 was at Rs 91.42 crore, down by 52.3% from Rs 191.48 crore in Q2 FY20.

The company's total income tax expense tumbled 83.1% to Rs 24.56 crore in Q2 September 2020 as against Rs 145.73 crore in Q2 September 2019.

Spandana Sphoorty is a non-banking financial company - micro finance institution (NBFC-MFI).

The scrip shed 0.07% to Rs 627.80 on the Muhurat trading session on Saturday (14 November 2020).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Mon, November 16 2020. 15:49 IST