Conference Call with Spandana Sphoorty Financial Management and Analysts on Q3FY23 Performance and Outlook. Listen to the full earnings transcript.
Finance company Spandana Sphoorty Financial announced Q3FY23 results: Q3FY23 Financial: Total Income: Rs 375 crore (Rs 310 crore in Q2FY23) – growth of 21% QoQ. Net interest income: Rs 254 crore (Rs 219 crore in Q2FY23) – growth of 16% QoQ. Yield: 21.5% (19.5% in Q2FY23) – improvement of 200 bps Cost of borrowings: 11.5% (11.2% in Q2FY23) – increase of 30 bps Pre-Provision Operating Profit (PPOP): Rs 141 crore (Rs 110 crore in Q2 FY23) – growth of 28% QoQ Profit after tax: Rs 71 crore (Rs 55 crore in Q2FY23) – growth of 29% QoQ. Mr. Shalabh Saxena - Managing Director and CEO commenting on the performance of the Company for the Quarter said: “While steering through the challenges, we continue to make progress with our results in line with what we had set out to achieve beginning of the year. The quarter delivered a holistic improvement in all business parameters primarily driven by improvement in asset quality and disbursements. Initiatives that we had embarked upon to strengthen Controls, Refining Processes, using technology for monitoring risks & Audit are progressing at desired pace. We are thus readying the organization to pursue the Growth agenda and the coming quarters will see the same unfold.” Mr. Saxena, while announcing the results for the quarter added – “We will continue to pursue the growth agenda in Q4FY23 by opening ~100 new branches in identified geographies. The company’s focus on quality growth remains intact and we will keep expanding our business while strengthening our teams & stakeholder relationships towards meeting the goals envisaged in our Vision 2025”. Result PDF
Conference Call with Spandana Sphoorty Financial Management and Analysts on Q2FY23 Performance and Outlook. Listen to the full earnings transcript.