“The microfinance sector has turned a tough corner after a long spell of challenging times. As the market conditions improve, Spandana’s key indicators continued their upward trend. The company turned PAT positive after 6 quarters owing to improving portfolio quality and recoveries,” Venkatesh Krishnan, MD & CEO, Spandana Sphoorty Financial, said in a statement.
The company’s asset under management (AUM) increased 12 per cent to Rs 4,420 crore, a first in eight quarters.
The portfolio sourced under new lending norms now constitutes 80 per cent of microfinance portfolio & had 99.7 per cent net collection efficiency, Spandana said.
Disbursement increased 30 per cent sequentially to Rs 1,539 crore in fourth quarter.
Consolidated gross NPA declined to 3.78 per cent in the fourth quarter from 5.63 per cent in the same period last year.
