New Delhi, Nov 2 (IANS) Microfinance company Spandana Sphoorty Financial on Monday reported a cyber fraud incident involving unauthorised transactions worth Rs 7.80 crore from one of its bank accounts.

In an exchange filing, the company said the fraud was identified with the amount transferred to 82 beneficiary accounts through multiple transactions during the day.

On identification, the company immediately stopped the affected services in its production environment.

The company has reported the matter to the bank with a request for reversal of transactions, freezing of beneficiary accounts and a detailed investigation.

Moreover, a complaint has also been filed on the National Cyber Crime Reporting Portal, it added.

In addition, insurance for cyber fraud and a claim is being filed with the insurer, according to the company.

The matter is also being reported to other appropriate authorities.

The company is investigating the matter and said any developments, including recoveries and outcome of the investigation, will be intimated to the exchanges.

The company posted a consolidated net profit of Rs 18 crore for the second quarter.

Standalone net profit -- which reflects earnings from microfinance operations -- stood at Rs 35 crore.

Meanwhile, group assets under management grew 31 per cent year-on-year to Rs 5,364 crore at September-end and gross NPA ratio improved to 2.54 per cent

While net NPA stood at 0.50 per cent.

Shares of Spandana Sphoorty Financial on Monday traded 4.13 per cent lower at Rs 180.90 apiece on the BSE. The stock has recorded a 52-week high of Rs 319.70 and a 52-week low of Rs 175, according to the exchange.

In one year, the stock lost 27.36 per cent and 77.52 per cent in three years.

Over the past five years, the stock plunged 63.50 per cent in five years.

--IANS

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