Spandana Sphoorty Reports ₹440 Crore Q3 Loss, ₹127 Crore Profit Last Year, Shares Hit 5% Lower Circuit

Spandana Sphoorty Financial Ltd. reported a net loss of ₹440 crore for the third quarter ending December 31, 2024, a sharp decline from a net profit of ₹127 crore in the same quarter of the previous fiscal year. The company's net interest income fell 14% to ₹265 crore, compared to ₹309 crore in the prior year. Despite a slight improvement in asset quality, with gross non-performing assets (NPA) decreasing to 4.85% from 4.86% quarter-over-quarter, and net NPA dropping to 0.98% from 0.99%, the company's shares were locked in a 5% lower circuit at ₹324.65 on the BSE following the announcement. Analysts have not issued any 'sell' ratings on the stock, even though it has declined 70% from its peak. The financial sector is experiencing volatility, with other companies like Ujjivan Small Finance Bank and One 97 Communications (Paytm) also facing declines in their stock prices.