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Spandana Sphoorty slips after Q4 PAT drops 41% YoY

Capital Market 

Spandana Sphoorty Financial fell 1.45% to Rs 558 after the company 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.

Profit before tax in Q4 FY21 stood at Rs 67.17 crore, down 38.1% from Rs 108.47 crore in Q4 FY20. Tax expense declined 43.5% year-on-year (YoY) to Rs 24.08 crore.

Provisions and write offs increased 12.5% to Rs 211.61 crore in Q4 FY21 as against Rs 188.12 crore in Q4 FY20.

The company held cumulative provisions of Rs 466 crore as on 31 March 2021 as against Rs 195 crore as on 31 March 2020.

Disbursements in Q4 FY21 were at Rs 2,426 crore, higher by 4.4% on a YoY basis.

Assets under management (AUM) has increased 19.4% to Rs 8,157 crore in Q4 FY21 compared with Rs 6,829 crore in Q4 FY20. Sequentially, the AUM has risen by 5.1% from Rs 7,764 crore in Q4 FY20.

The micro financier reported 58.7% drop in consolidated net profit to Rs 145.04 crore on 2.5% rise in total income to Rs 1505.61 crore in the year ended 31 March 2021 over the year ended 31 March 2020.

Capital Adequacy Ratio was at 40% as on 31 March 2021 as against 47.4% as on 31 March 2020.

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.

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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, May 24 2021. 10:35 IST