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Spandana Sphoorty Financial Results: Latest Quarterly Results & Analysis

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Spandana Sphoorty Financial Ltd. 31 Oct 2025 16:56 PM
Result PDF

Q2FY26 Quarterly Result Announced for Spandana Sphoorty Financial Ltd.

Microfinance Institutions company Spandana Sphoorty Financial announced Q2FY26 results

  • AUM: Rs 4,088 crore 18% QoQ decline (Rs 4,958 crore – June’25).
  • Disbursement: Rs 934 crore as against Rs 280 crore disbursed in Q1FY26 - a QoQ growth of 233%.
  • Asset Quality (Consolidated):
    • GNPA: 5.62% (30-June-2025 – 5.49%); NNPA – 1.17% (30-June-2025 – 1.15%).
    • PCR: Provision Coverage Ratio has been maintained at ~80%.
  • Collection Efficiency:
    • Gross Collection Efficiency improved to 92.9% for Q2FY26 (91.1% in Q1FY26).
    • Net collection efficiency improved to 92.4% (90.6% in Q1FY26).
  • Sufficient liquidity of Rs 1,179 crore at the end of September 2025.
  • Financial Performance for Q2FY26 vs Q1FY26:
    • Total Income: Rs 239 crore in Q2FY26, 21% QoQ decline.
    • Net Interest Income: Rs 91 crore in Q2FY26, lower by 20% QoQ.
    • Yield: 19.6%, improved by 21 bps QoQ.
    • Cost of borrowings: 12.6% in Q2FY26; increased by 27 bps QoQ.
    • Pre-Provision Operating Profit (PPOP): (Rs 40 crore) for Q2FY26 vs (Rs 40 crore) reported in Q1FY26.
    • The Company reported a net loss of Rs 249 crore for Q2FY26, driven by elevated credit costs stemming from higher gross slippage, coupled with subdued income due to degrowth in loan book and elevated operational expenses.

Ashish Damani, Interim CEO, President and CFO, said: “The trends developing in Q2FY26 have been rather heartening after last 15 tumultuous months for microfinance industry. Spandana’s X-bucket collection efficiency continued its upward trajectory recording 98.7% for September 2025 vs 97.9% reported for Jun-25. ~28% of our portfolio (built under new stricter credit norms) is performing extremely well with only 0.1% delinquent at the end of September 25. Our focused efforts have resulted in Rs 48 crore recoveries during Q2FY26.

The positive trends during the quarter strengthened our confidence to deepen customer engagement, leading to a sequential increase in disbursements to Rs 934 crore, compared with Rs 280 crore in Q1FY26. The Company’s AUM stood at Rs 4,088 crore as of September 30, 2025, while standalone GNPA and NNPA were 4.97% and 0.97% respectively. However, profitability continued to be weighed down by elevated impairment costs from the portfolio originated in FY24 and FY25, along with a higher bench relative to a shrinking loan book. Consequently, the Company reported a net loss of Rs 249 crore for Q2FY26.

We continue to relook at every possibility for improvements. Our comfortable liquidity of Rs 1,179 crore and strong Balance sheet with CRAR of 47.0%, gearing of 1.5x positions us favorably to drive future growth. The recent macros along with bountiful rains across India give us sufficient indication of the quality and trend of credit demand in rural India”

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Microfinance Institutions company Spandana Sphoorty Financial announced Q1FY26 results

  • Total Income: Rs 304 crore in Q1FY26 - 27% QoQ decline.
  • Net Interest Income: Rs 113 crore in Q1FY26, lower by 43% QoQ.
  • Yield: 19.35%, decline of 138 bps QoQ.
  • Cost of borrowings: 12.34% in Q1FY26; decline by 21 bps QoQ.
  • Pre-Provision Operating Profit (PPOP): (Rs 59 crore) for Q1FY26 vs. Rs 25 crore reported in Q4FY25.
  • The Company reported a net loss of Rs 360 crore for Q1 FY26, driven by elevated credit costs stemming from higher gross slippage, coupled with subdued income due to degrowth in loan book and increased operational expenses.
  • AUM: Rs 4,958 crore 27% QoQ decline (Rs 6,819 crore: March’25).
  • Disbursement: Muted disbursements owing to very selective lending and continued industry headwinds. Total disbursement for the quarter was Rs 280 crore as against Rs 365 crore disbursed in Q4FY25 - a QoQ decline of 23%.
  • Asset Quality (Consolidated):
    • GNPA: 5.49% (31-March-2025: 5.63%); NNPA: 1.15% (31-March-2025: 1.19%).
    • PCR: Provision Coverage Ratio has been maintained at ~80%.
  • Collection Efficiency:
    • Gross Collection Efficiency was at 91.1% for Q1FY26 (91.5% in Q4FY25).
    • Net collection efficiency was flat QoQ at 90.6% (90.9% in Q4FY25).
  • Sufficient liquidity of Rs 1,731 crore at the end of June 2025.

Ashish Damani, Interim CEO, President & CFO, said: “We successfully closed the Rs 400 crore rights issue with participation in full from promoters and institutional investors. This capital raise will further strengthen our capital structure and position us for future growth. Post-issue, our CRAR has improved to 46%, up from 40.8% at the end of June 2025 on a consolidated basis.

During Q1FY26, we prioritised strengthening our products, processes, and technology across the customer journey, while maintaining a disciplined approach to disbursements. The operating environment is improving gradually, and we remain focused on identifying the right opportunities to serve our customers effectively. We continued to grapple with industry-wide challenges that emerged in FY25. Despite stabilisation in operations, these factors continued to disrupt operations and collections, driving up gross slippage, credit costs and resulting in a loss for the quarter ended June 30, 2025. Disbursements for the quarter stood at Rs 280 crore. AUM at the end of Q1FY26 was Rs 4,958 crore. Standalone GNPA and NNPA were at 4.88% and 0.96%, respectively.

Spandana continues to maintain comfortable liquidity with Rs 1,731 crore, which is 26% of our assets. As of Jun-25, our PCR was maintained at ~80% and gearing was at 1.9x. As the industry moves forward with full implementation of SRO guidelines, we are confident that team Spandana is well-equipped to meet customer lifecycle needs and continue building a quality portfolio.”

Result PDF

Finance company Spandana Sphoorty Financial announced Q3FY25 results

  • AUM – Rs 8,936 crore 14% YoY decline (Rs 10,404 crore – Q3FY24).
  • Disbursement– During the quarter stringent disbursement criteria was adopted and serving existing customers was prioritized. Rs 1,443 crore was disbursed in Q3FY25 vs. Rs 2,543 crore in Q3FY24 - a decline of 43%.
  • Asset Quality: – industry wide challenges had an impact on asset quality.
    • GNPA – 4.85% (30-Sep-24 – 4.86%).
    • NNPA – 0.98% (30-Sep-24 – 0.99%).
    • PCR – Provision Coverage Ratio has been maintained at ~80%
  • Collection Efficiency:
    • Gross Collection Efficiency was at 92.4% for Q3FY25 (93.7% in Q2FY25).
    • Net collection efficiency was flat QoQ at 90.7% (90.8% in Q2FY25).
  • Borrowings for the quarter were calibrated to meet the company’s disbursement and liquidity requirements. Rs 872 crore was mobilized during Q3FY25 – down 62% compared to Q3FY24 and down 45% compared to Q2FY25.
  • Financial Performance:
    • Total Income: Rs 573 crore in Q3FY25 - 13% YoY decline.
    • Net Interest Income: Rs 265 crore in Q3FY25, lower by 14% YoY.
    • Yield: 21.1% decline of 291 bps YoY.
    • Cost of borrowings: 12.2% in Q3FY25 decrease of 8 bps YoY.
    • Pre-Provision Operating Profit (PPOP): Rs 78 crore for Q3FY25 - decline of 67% YoY.
    • Higher credit cost due to an increase in delinquencies resulted in reported loss of Rs 440 crore for the quarter and loss of Rs 216 crore reported in Q2FY25.

Shalabh Saxena, CEO and Managing Director, said:, “The microfinance industry in India has been going through a challenging phase in the current financial year. A wide set of challenges including borrower leverage, dilution of JLG model, poor center meeting attendance and high attrition continue to impact the sector. All these factors together have manifested into challenges on maintaining the collection levels.

Being one of the large players, Spandana has not been immune to the challenges. Like Q2FY25, Q3FY25 was challenging as more borrowers turned delinquent and the company deliberately slowed down disbursement to drive portfolio quality and center meeting discipline. The Company provided a total of Rs 666 crore towards impairment costs leading to a Rs 440 crore reported loss for the quarter. A joint action by the industry through the implementation of guardrails will help improve discipline in the industry.

With a Net-worth of Rs 3,082 crore at the end of Q3FY25; CRAR of 35.7%; and gearing at a modest 2.2x, the company is well capitalized to navigate the current times. The Board has authorized the Company to raise upto Rs 750 crore of confidence capital for future business requirements, at an appropriate time.

Number of initiatives for strengthening controls and processes with the aid of technology are being driven. The management team is taking all steps possible to ensure a return to normalcy in the next few quarters.”

Result PDF

Finance company Spandana Sphoorty Financial announced Q2FY25 results

  • AUM: Rs 10,537 crore 8% YoY growth (Rs 9,784 crore: Q2FY24).
  • Disbursement– Our focus during the quarter was on serving the existing borrowers. Disbursement for the quarter was Rs 1,514 crore vs. Rs 2,512 crore in Q2FY24, decline of 40%. H1FY25 disbursement at Rs 3,798 crore was 9% lower YoY.
  • Asset Quality temporary disruptions had an impact on asset quality.
    • GNPA: 4.86% (30-Jun-24: 2.60%).
    • NNPA: 0.99% (30-Jun-24: 0.53%).
    • PCR: Provision Coverage Ratio has been maintained at 79.66%.
  • Collection Efficiency:
    • Gross Collection Efficiency was at 93.7% for Q2FY25 (97.5% in Q1FY25).
    • Net collection efficiency was 90.8% (94.0% in Q1FY25).
  • Borrowings: We continue to optimize our borrowing mix in view of business requirements. Banks now account for 54% of total borrowings.
    • Rs 1,584 crore was mobilized during Q2FY25: down 50% compared to Q2FY24 and flat vs. Q1FY25.
  • Financial Performance:
    • Total Income: Rs 707 crore in Q2FY25 - growth of 10% YoY.
    • Net Interest Income: Rs 341 crore in Q2FY25, YoY growth of 9%.
    • Yield: 22.4% decline of 202 bps YoY.
    • Cost of borrowings: 11.8% in Q2FY25 decrease of 77 bps YoY.
    • Pre-Provision Operating Profit (PPOP): Rs 228 crore for Q2FY25 - decline of 12% YoY.
    • Higher credit cost due to an increase in delinquencies resulted in reported loss of Rs 216 crore for the quarter vs. Rs 125 crore PAT reported in in Q2FY24 and Rs 56 crore PAT reported in Q1FY25.

Shalabh Saxena, CEO and Managing Director, said: “Microfinance sector has been facing multiple headwinds over the last two quarters. The operations that were initially impacted by long drawn elections and intense heat wave during summers of 2024 were further disrupted by heavy rainfall and floods in certain states during the months of July to September 2024. A number of other issues like higher-thannormal attrition levels, localized drives like Karza Mukti Abhiyan and increasing leverage of borrowers all had an impact on the sector.

Keeping all these factors in view, Spandana was cautious and very selective in its lending during the quarter. The focus during the quarter was on improving portfolio quality and serving existing customers. Hence, while the Income for the quarter was up 10% YoY to Rs 707 crore and NII was up 9% YoY to Rs 341 crore, the elevated delinquencies had a bearing on the impairment costs resulting in a reported loss of Rs 216 crore. GNPA at the end of the quarter was 4.86% while NNPA was 0.99%.

The management team has taken up various measures to address the challenges including increasing bench strength, strengthening branch level controls, introducing technology and people interventions, refining of credit policy and focusing on softer aspects. With improvement in the operating environment and the various initiatives undertaken, we expect the situation to normalize in the coming quarters.”

Result PDF

Finance company Spandana Sphoorty Financial announced Q1FY25 results:

  • AUM - Rs 11,723 crore; 32% over Q1FY24 (Rs 8,848 crore)
  • Disbursement - Rs 2,283 crore; 37% over Q1FY24 (Rs 1,664 crore)
  • GNPA & NNPA – 2.60% & 0.53% (1.63% & 0.49% in Q1FY24)
  • Income - Rs 737 crore; 40% over Q1FY24 (Rs 527 crore)
  • Net Interest Income - Rs 425 crore; 47% over Q1FY24 (Rs 290 crore)
  • PAT – Rs 56 crore; -53% over Q1FY24 (Rs 119 crore)

Shalabh Saxena, CEO and Managing Director, while announcing the results stated, “Q1FY25 was a challenging quarter for the company. The long drawn 7 phase general elections, severe heat wave across the country and higher attrition in select geographies posed a challenge to the quality of the portfolio.

Despite these temporary disruptions, our teams were able to add about 2 lac new borrowers during the quarter taking our total customer base to 34.1 Lakh ( 42% YoY). Disbursement for the quarter was up by 37% YoY to Rs 2,283 crore. Income was up 40% YoY to Rs 737 crore and NII increased by 47% YoY to Rs 425 crore.

The challenges faced during the quarter reflected in elevated delinquencies and higher credit costs resulting in PAT declining to Rs 56 crore from Rs 119 crore reported for Q1FY24. GNPA at the end of the quarter was at 2.60% and NNPA was at 0.53%. We expect the business to be normalized by the second half of the year.

With the constant support of all our stakeholders and the efforts of our employees, we are reasonably confident of sustaining our growth momentum while improving the efficiencies of existing operations during the course of the year.”

Result PDF

Finance company Spandana Sphoorty Financial announced Q4FY24 & FY24 results:

Financial Highlights:

- Assets Under Management (AUM): AUM stood at Rs 11,973 crore for FY24, registering a 41% increase over the FY23 figure of Rs 8,511 crore.
- New Customer Acquisition: The company acquired 13.9 Lakh new customers, which is a 59% increase from the previous year's acquisition of 8.8 Lakh customers.
- Disbursements: Disbursements for FY24 were Rs 10,688 crore, representing a 32% increase from FY23 Rs 8,125 crore.
- Gross Non-Performing Assets (GNPA) & Net Non-Performing Assets (NNPA): GNPA was down to 1.50%, and NNPA stood at 0.3%.
- Income: Total income for the company was Rs 2,534 crore, a substantial 72% increase over the Rs 1,477 crore reported in FY23.
- Net Interest Income (NII): NII reached Rs 1,289 crore, up by 59% from the previous year's Rs 810 crore.
- Profit After Tax (PAT): The company reported its highest ever PAT at Rs 501 crore for FY24, a remarkable increase from the Rs 12 crore reported in FY23.
- Provision Coverage Ratio (PCR): PCR increased to 79.95%, from 70.45% the previous quarter.
- Collection Efficiency: Gross Collection Efficiency was reported at 99.3% for Q4FY24, and Net collection efficiency stood at 96.5%.
- The company mobilized Rs 10,441 crore during the year, an 81% increase from the previous year's Rs 5,775 crore.
- In Q4 FY24 alone, funds mobilized were Rs 3,428 crore.

Operational Highlights:
- Cost of Borrowings: The cost of borrowings for FY24 saw an increase to 12.2%, up from 11.7% in FY23.
- Pre-Provision Operating Profit (PPOP): PPOP for FY24 was Rs 953 crore, a 70% increase over FY23 Rs 562 crore.

Shalabh Saxena, CEO and Managing Director, commented on the results "FY24 was second of the three-year Vision 2025 laid out by the management team of Spandana in 2022. Our Customer Acquisition led growth strategy has resulted in a 41% AUM growth with the company delivering highest ever PAT of Rs 501 crore, GNPA & NNPA improved to 1.50% and 0.30% respectively in FY24. The growth was driven by customer acquisition of 13.9 Lakh in FY24 taking the active customer base of the company to over 3.3 million.

The team has demonstrated strong capabilities in managing multiple priorities of the organization like branch expansion, improvement in portfolio quality, strengthening processes, governance, and start of new business lines.

While we will continue to sustain the momentum in FY25, we are particularly focused on improving efficiencies and productivity of the distribution. With the progress made thus far and the support of all the stakeholders we are confident of reaching the milestones set for ourselves."

Result PDF

Non-banking Financial company Spandana Sphoorty Financial announced Q3FY24 results:

Financial Performance:
- Assets Under Management (AUM): Spandana's AUM has increased by 52% YoY to Rs 10,404 crore.
- Profit After Tax (PAT): PAT has seen a growth of 79%, reaching Rs 127 crore, with income rising by 75%.

Operational Performance:
- New Customer Acquisition: The company acquired 3.4 Lakh new customers, marking a YoY growth of 56%.
- Disbursements: Disbursements amounted to Rs 2,543 crore, an 8% increase from the previous year.
- Borrower Base: At the end of the quarter, the borrower count stood at approximately 29.6 Lakh, a 32% increase compared to the same quarter of the previous year.

Borrowings and Credit Rating:
- Borrowings: The company mobilized Rs 2,279 crore, an increase of 8% from the previous year.
- Credit Rating Outlook: ICRA updated Spandana's outlook to Positive, with a rating of A (Positive) from the previous A (Stable).

Asset Quality:
- Gross Non-Performing Assets (GNPA): GNPA is reported at 1.61%, showing a substantial improvement from 5.31% as on the same quarter of the previous year.
- Net Non-Performing Assets (NNPA): NNPA is at 0.48%, down from 2.52% YoY.
- Provision Coverage Ratio: The Provision Coverage Ratio stood at 70.45%.

Collection Efficiencies:
- Net Collection Efficiency: Reported at 97.2%, while Gross Collection Efficiency was at 99.9%.

Capital Adequacy:
- Capital to Risk (Weighted) Assets Ratio (CRAR): The CRAR at the end of December 2023 was 35%, indicating a strong capital position.

Shalabh Saxena, CEO and Managing Director, while announcing the results stated, “Q3FY24 was a quarter where Spandana crossed a milestone by reaching Rs 10,404 crore AUM. Aside from the PAT for 9 months ended December 2023 was an all-time high of Rs 372 crore in the history of Spandana surpassing the full-year profits of previous years.

End of the quarter we reached a borrower base of ~3 million while still maintaining good portfolio quality with GNPA at 1.61% & NNPA at 0.48%. We continue to execute on our strategy of customer acquisition-led growth as reflected in the healthy addition of about 3.4 L borrowers during the quarter thus taking the customer acquisition for this year to 9.5 Lac customers. Income was up 75% YOY to Rs 657 crore while PAT at Rs 127 crore for the quarter has seen an increase of 79% YoY.

Microfinance business presents a good opportunity for pan India players and as an established player we are cautiously optimistic about our progress in the current year. Both our Distribution & Liability franchisee is shaping well and we are taking the right steps to strengthen the organization for robust growth in the coming quarters.”

 

Result PDF

Non-banking financial company Spandana Sphoorty Financial announced Q2FY24 results:

  • AUM: Rs 9,784 crore; 69% YoY (Rs 5,782 crore in Q2FY23)
  • New Customer Acquisition: 3.5 Lacs (183% YoY growth; 1.2 lacs in Q2FY23)
  • Disbursement: Rs 2,513 crore; 81% YoY (Rs 1,391 crore in Q2FY23)
  • GNPA: 1.40% (1.63% in Q1FY24)
  • NNPA: 0.42% (0.49% in Q1FY24)
  • Income: Rs 640 crore; 106% YoY (Rs 310 crore in Q2FY23)
  • Net Income: Rs 412 crore; 89% YoY (Rs 219 crore in Q2FY23)
  • NIM: 14.1% (13% in Q2FY23)
  • PAT: Rs 125 crore; 127% YoY (Rs 55 crore in Q2FY23)

Shalabh Saxena, CEO and Managing Director, while announcing the results stated, “During the quarter our AUM grew 69% YoY to Rs 9,784 crore with disbursements at Rs 2,513 crore which was a growth of 81% YOY. We added 3.5L new borrowers taking our total borrower count to 27 Lakhs, a growth of 24%. All the financial parameters showed a positive trend with PAT increasing 127% to Rs 125 crore, GNPA and NNPA further improving to 1.40% and 0.42% respectively from 1.63% and 0.49% at the end of Q1FY24. Besides, we have added 292 branches during the calendar year, taking the count of operational branches to 1,407. We will be operationalizing an additional 110 branches in the next 3 months, thus taking the branch strength to over 1,500. During the quarter, we soft launched Nano enterprise loans for shopkeepers & retailers on the back of Loan Against Property which we launched in Q1. We have seen good demand for these products and we will scale up these business lines as we progress. As a management team, we are comfortable with the progress made thus far and are confident of achieving our goals as set under the Vision – 2025.”

 

Result PDF

Non-banking financial company Spandana Sphoorty Financial announced Q1FY24 results:

  • AUM of Rs 8,848 crore; 60% over Q1FY23 (Rs 5,513 crore)
  • Disbursement of Rs 1,664 crore; 26% over Q1FY23 (Rs 1,320 crore)
  • GNPA of 1.63% (2.07% in Q4FY23)
  • NNPA of 0.49% (0.64% in Q4FY23)
  • Total income of Rs 527 crore; 104% over Q1FY23 (Rs 259 crore)
  • NII of Rs 328 crore; 102% over Q1FY23 (Rs 162 crore)
  • NIM of 14.2% vs 9.9% in Q1FY23
  • PAT of Rs 119 crore against a loss of Rs 220 crore in Q1FY23

Shalabh Saxena, CEO and Managing Director of the company, while announcing the results stated, “Last year we wrote-off Rs 702 crore of portfolio in Q1FY23 resulting in net loss of Rs 220 crore for the quarter. Our focused efforts during FY23 resulted in an improvement in asset quality with GNPA improving from 18.7% end of FY22 to 1.63% at the end of Q1FY24. The progress over the last 4 quarters has yielded decent results both on the Quality & Growth perspective. We thank our teams and all the stakeholders for their support during the period and are confident that as a team we are well placed to deliver the goals of Vision 2025 which is Rs 15,000 crore of Micro Finance portfolio and upwards of Rs 2,000 crore in the Housing & Nano MSME loans.”

Saxena added, “With the building blocks in place, we are now expanding our physical presence across the states where we see good potential to be a player with meaningful share of the market. We are taking steps like extending LAP (Loan Against Property) & Housing product to new geographies, refining the distribution model, continuing our focus on governance & most importantly investing in our people. All of these will ensure a robust future proof organization.”

 

Result PDF

Non-banking Financial company Spandana Sphoorty Financial announced Q4FY23 & FY23 results:

  • Q4FY23:
    • AUM – Rs 8,511 crore a 24% growth over Q3FY23 (Rs 6,852 crore)
    •  Disbursement of Rs 3,054 crore (Q3FY23 – Rs 2,361 crore), QoQ growth of 29.4%
    • New customer addition during the quarter was 4.3 Lacs (Q3FY23 – 2.19 Lac), QoQ growth of 95%
    • Borrowings- Rs 2,402 crore funds mobilized in Q4FY23 v/s Rs 2,138 crore in Q3FY23, a growth of 12%
    • Total Income: Rs 533 crore (Rs 375 crore in Q3FY23) – growth of 42% QoQ
    • Net interest income: Rs 384 crore (Rs 254 crore in Q3FY23) – growth of 51% QoQ
    • Normalized Yield: 22.8% (21.2% in Q3FY23) – improvement of 168 bps
    • Normalized Cost of borrowings: 12.4% (11.5% in Q3FY23) – an increase of 88 bps
    • Pre-Provision Operating Profit (PPOP): Rs 261 crore (Rs 141 crore in Q3 FY23) – growth of 85%
    • Profit after tax: Rs 106 crore (Rs 71 crore in Q3FY23) – growth of 48% QoQ
  • FY23:
    • AUM – Rs 8,511 crore a 29% growth over FY22 (Rs 6,581 crore)
    • Disbursement was Rs 8,125 crore in FY23 vs. Rs 3,373 crore disbursed in FY22, growth of 141%
    • About 8.8 lakh new customers were acquired during the year FY23, a growth of 166% over FY22
    • Borrowings- Rs 5,775 crore was mobilized during the year – up 208% over Rs 1,875 crore in FY22
    • PAT for FY23 was down 82% to Rs 12 crore owing to a write-off of Rs 702 crore in Q1FY23

Shalabh Saxena- Managing Director and CEO while presenting the results of the company stated: “FY23 was a year of consolidation for Spandana. Efforts of the management team were dedicated to multiple priorities which included building a strong team; refining systems & processes; strengthening governance & control; and expanding operations. FY23 was the first of the three-year plan articulated under Vision 2025 and we are happy to inform that the performance is in line with the plan. With focus on customer acquisition-led growth, we were able to add about 8.8 Lac new borrowers during the year, thus taking the total customer base to 23 lacs end of March’23. Our asset quality saw a sharp improvement with GNPA improving from 18.7% at the end of FY22 to 2.07% at the end of FY23. NNPA during the same period improved from 10.5% to 0.64%.

Saxena added, “While there are concerns due to geo-political and macro-economic challenges, we are cautiously optimistic about the prospects of Indian economy in the medium term. For FY2024, we have plans to open 400 new branches across select states and disburse close to Rs 11,500 crores during the financial year. Our focus will be to deliver quality growth that adds value for all stakeholders and every step we take is aimed at achieving that objective.”

 

 

Result PDF

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