Spandana Sphoorty Financial Limited — Updates, 28-10-2024: Press Release (Revised)

Spandana Sphoorty Financial Limited reported 9% year-on-year growth in Net Interest Income (NII), reaching ₹341 Cr, while total income increased by 10% to ₹707 Cr. However, profitability was affected by higher provisions due to ongoing challenges in the microfinance sector, resulting in a loss of ₹216 Cr. The company has adopted a cautious lending approach, focusing on improving asset quality amid rising delinquencies, with GNPA at 4.86%.