India's Spandana Sphoorty falls; ICRA revises outlook to 'negative'

ICRA

06/12/2024 05:16

** Spandana Sphoorty Financial  SPAD.NS  falls 2.31% to
389.40 rupees
    ** ICRA revises its outlook on rural-focused micro finance
lender's lending instruments to "negative" from "stable"
    ** Says outlook revision considers deterioration in co's
asset quality and profitability in H1 FY25
    ** Adds microfinance industry experiencing "significant"
rise in delinquencies due to over-leveraging of borrowers,
adverse climate conditions and political movements
    ** Stock rated "buy" on avg - LSEG
    ** YTD, SPAD down 65.5%

($1 = 84.6700 Indian rupees)

 (Reporting by Ananta Agarwal in Bengaluru)
 ((Ananta.Agarwal@thomsonreuters.com))