 "q3, result, quarter")
Hit by huge provisions for bad loans, Aspire Home Finance, a unit of Motilal Oswal Securities, has booked a net loss of Rs 97 crore in the third quarter ended December 2018 (Q3Fy19) as against profit of Rs 7.6 crore in Q3Fy18.
Its Net Interest income (NII) declined from Rs 57.7 crore in October-December 2017 (Q3Fy18) to Rs 52.3 crore in Q3Fy19. NII fell mainly on account of lower interest income due to reduction in loan book led by higher write offs and lower disbursements.
Its provisions/write-off for bad loans stood at Rs 178 crore in Q3Fy19 as against Rs 29 crore
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