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Sundaram Finance reported a 25 per cent growth in net profit at ₹160 crore in the September quarter against ₹128 crore in the year-ago period.
Loan disbursements in the second quarter (Q2) of this fiscal were up 20 per cent to ₹3,797 crore (from₹3,177 crore in the year-ago period), according to a company statement. The disbursements were driven by strong demand in the car, construction equipment and tractor segments which, in turn, helped boost the bottomline growth. All these segments logged double-digit growth in volumes during the second quarter.
The company’s gross and net NPAs (based on the three-month norm) stood at 2 per cent and 1.1 per cent, respectively, compared with 2.18 per cent and 1 per cent as on September 30, 2016.
Half-year performanceFor the half-year ended September 30, net profit was up 27 per cent at ₹277 crore (₹218 crore in the same period last year).
Loan disbursements in H1 this fiscal rose 13 per cent to ₹7,217 crore (₹ 6,394 crore in H1 FY17).
As of September, its assets under management stood at ₹22,469 crore against ₹19,348 crore a year ago.
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