India's Spandana Sphoorty eyes worst day in 4-1/2 yrs on Q2 loss

Spandana Sphoorty Financial

29/10/2024 04:31

** Spandana Sphoorty Financial  SPAD.NS  slumps as much as
16.8% to 382.35 rupees, lowest since June 2022
    ** NBFC's stock posts sharpest intraday drop since March
2020
    ** SPAD posts Q2 consolidated net loss of 2.16 bln rupees
($25.7 mln) vs yr-ago profit of 1.25 bln rupees
    ** Total rev rose 12.5%, but expenses more than doubled
    ** Trading vol of over 940,000 shares is 4.4x the 30-day avg
    ** Avg rating of seven analysts is equivalent of "strong
buy", median PT is 830 rupees - LSEG data
    ** Stock down 64.5% YTD
 
 ($1 = 84.0700 Indian rupees)

 (Reporting by Ashish Chandra in Bengaluru)
 ((ashish.chandra@thomsonreuters.com (+91 7982114624))