Money & Banking

Sundaram Finance profit grows 12%

Our Bureau Chennai | Updated on October 28, 2013 Published on October 28, 2013

The Chennai-headquartered non-banking finance company Sundaram Finance Ltd has reported 12 per cent growth in net profit at Rs 123 crore for the quarter ended September 30, against Rs 111 crore in the corresponding previous year period.

Income from operations rose 10.7 per cent to Rs 558 crore during the quarter from Rs 504 crore last year. Earnings per share stood at Rs 11.05 (Rs 10.04).

The company’s home finance subsidiary Sundaram BNP Paribas Home Finance Ltd reported 12 per cent growth in net profit at Rs 70 crore for the half year ended September 30against Rs 62.56 crore in the previous year period. The overall negative sentiment in the economy, coupled with the recent agitation in Andhra Pradesh, has slowed down the pace of the overall home loan growth, says a press release.

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Published on October 28, 2013
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