Spandana Sphoorty posts Q2 profit after year-ago loss
In short
Spandana Sphoorty Financial made a Rs 18 crore profit in Q2, after a Rs 249 crore loss a year earlier. Its assets under management rose 31% to Rs 5,364 crore.
The company also said asset quality improved and bad loans fell. The report does not say how investors reacted or give more details.
What the reporting says
Spandana Sphoorty Financial reported a consolidated Q2 profit of Rs 18 crore, reversing a Rs 249 crore loss a year earlier, according to a publisher summary. Assets under management rose 31% to Rs 5,364 crore, and improving asset quality reduced gross and net NPAs. The report does not provide the quarter’s full revenue detail or say how markets have reacted.
Why it matters
Spandana Sphoorty Financial reported a consolidated Q2 profit of Rs 18 crore, compared with a Rs 249 crore loss in the same period last year. Assets under management increased 31% to Rs 5,364 crore, and the company said better asset quality lowered gross and net NPAs. The update points to an operational turnaround, but the reporting does not provide share-price reaction or additional financial line items.