Spandana Sphoorty Financial Ltd - Q1FY21 Results - Angel Broking

Mr. Jaikishan Parmar - Sr. Equity Research Analyst, Angel Broking Ltd

"For Q1FY21, Spandana Sphoorty Financial Ltd reported a mixed set of numbers. AUM sequentially remain same. NII grew 5% QoQ and 19% YoY, opex sequentially decline and increased 4.4% YoY. PAT declined 37% YOY and 29% QoQ primarily owing to higher provision cost. Positive was Collection efficiency*(Incl. moratorium) it was 2% in April and in the month of Aug 2020, it reached 92%. Currently, Spanana Sphoorty trades at 1.4x TTM book value which is lower compare to Credit access. We believe the stock price will consolidate till investors get better clarity on slippages from the Moratorium book."

Source : Equity Bulls

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