Spandana Sphoorty Q1 Results: Company reports Rs 119 crore profit

"Microfinance player Spandana Sphoorty Financial Monday reported a Rs 119 crore net income for the June quarter of the current fiscal as against a net loss of Rs 220 crore a year-ago on improved loan sales and the resultant interest income.

Its said its total interest income doubled to Rs 527 crore, while disbursement rose 26 percent to Rs 1,664 crore, taking the total loan book Rs 8,848 crore, up 60 percent on-year.

Overall asset quality improved with GNPA falling to 1.63 per cent from 2.07 per cent and NNPA inching down to 0.49 per cent from 0.64 per cent.

Margin jumped to 14.2 per cent from 9.9 per cent giving it interest income of Rs 328 crore, which jumped 102 per cent over the last 12 months period.