Spandana Sphoorty Financial reported a 42.1 per cent drop in its consolidated net profit for the quarter ended March 31, 2022 at ₹28.4 crore compared to ₹49.06 crore a year ago.
For the fourth quarter of last fiscal, its total income also declined 37.7 per cent to ₹299.07 crore from ₹480.29 crore a year ago.
For the fiscal 2021-22, its consolidated net profit declined by 52 per cent to ₹69.46 crore from ₹145.03 crore in 2020-21.
“Fiscal year 2022 was a watershed year and it is a matter of great pride that we successfully managed the various disruptions during the year,” said Shalabh Saxena- Managing Director and CEO, Spandana Sphoorty.
“With successful transition of management, a reasonably good fourth quarter (on key business parameters) and various efforts undertaken to strengthen the fundamentals of business, we feel confident of charting a quality growth path for Spandana in the coming years,” he further said.