Money & Banking

Q2 results: Sundaram Finance posts profit of ₹269 crore

Our Bureau Chennai | Updated on November 11, 2019

Sundaram Finance’s networth stood at ₹5313 crore as on September 30, 2019

Leading private sector lender Sundaram Finance reported a profit after tax of ₹269 crore for the quarter ended September 30, 2019. The September quarter net profit includes a one-time income of ₹53 crore and the benefit of lower corporate tax.

Hence, on a like-for-like comparison, the net profit for the quarter ended September 30, 2019, stood at ₹192 crore, against ₹154 crore in the same period last year, registering a growth of 25 per cent, according to a statement.

Income from operations for the September 2019 quarter grew 22 per cent to ₹994 crore, when compared with ₹817 crore in the corresponding quarter of the previous year.

For the half-year ended September 30, 2019, the company’s profit after tax stood at ₹374 crore (excluding one-time gain of ₹53 crore), when compared with ₹295 crore in the same period last year, posting an increase of 27 per cent. Total revenue from operations was ₹1924 crore, against ₹1580 crore.

Its assets under management stood at ₹30,256 crore as on September 30, 2019, against ₹27,228 crore a year ago, registering a growth of 11 per cent.

Deposits

The company’s deposits have seen a 15 per cent growth in the first half of this fiscal.

Deposits stood at ₹3,424 crore as on September 30, 2019, a net accretion of ₹449 crore in the first half of the year.

Sundaram Finance’s networth stood at ₹5313 crore as on September 30, 2019.

Published on November 11, 2019

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like