Spandana Sphoorty Financial suffers 2nd quarterly loss, breaches borrowing covenants, regulatory norm

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Spandana Sphoorty Financial posted a ₹440 crore net loss in Q3 FY24, its second consecutive quarterly loss, driven by ₹626 crore bad loan write-offs and higher provisions. Regulatory exemptions and lender discussions continue amid covenant breaches.

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