Comments
Sundaram BNP Paribas Home Finance, subsidiary of Sundaram Finance Ltd, on Monday reported over 150 per cent growth on its net profits for the fourth quarter ending March 31, 2011.
The company made a net profit of Rs 19.88 crore, up by 159.8 per cent over the Rs 7.65 crore achieved in the corresponding quarter of previous year.
Sundaram BNP Paribas Home Finance is a 50.1 per cent and 49.9 per cent joint venture between Sundaram Finance Ltd and BNP Paribas.
For the year ending March 31, 2011 Sundaram BNP Paribas reported net profits at Rs 47.68 cr (Rs27.72 cr), an increase of 72 per cent over the corresponding period a year ago.
The company has declared a dividend of 15 per cent. “It has been a year of high profitable growth for us. We expanded and strengthened our presence across the Southern market, increasing our market share especially in Tier II and III towns in each of these markets.” said Mr Srinivas Acharya, Managing Director, Sundaram BNP Paribas Home Finance.
On their outlook for this year, Mr Acharya said “Our expansion plans are well geared to further increase our market share in this region. During the year, we also expect to expand our footprint outside the South market and are hoping to make inroads into a couple of new geographies.”
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.