Spandana Sphoorty rises after board OKs Rs 35-cr NCD issue

Spandana Sphoorty Financial added 3.49% to Rs 360.75 after the company said that its board has approved the issuance of non-convertible debentures (NCDs) aggregating upto Rs 35 crore on private placement basis.

The NCDs are rated, listed, secured and redeemable, having a face value of Rs 10 lakh each. The announcement was made during market hours today, 10 March 2022.

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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