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In its first year of operations after de-merger of Sundaram Finance’s non-financial services investments into Sundaram Finance Holdings, the latter reported a net profit of ₹15.16 crore in the fourth quarter ending March 31, 2018, compared to a net loss of ₹0.34 crore in the same quarter last year. Revenue stood at ₹22 crore (₹0.45 crore).
For the fiscal ending March 31, 2018, the company reported net profit of ₹54 crore (₹0.48 crore) on revenue of ₹74 crore (₹4.84 crore).
The company’s board recommended a dividend of ₹1.50 per share of ₹5.
All figures for current year/quarter are after giving effect to the scheme of arrangement and hence, not comparable with those of the earlier periods.
TT Srinivasaraghavan, Director, Sundaram Finance Holdings, said over the years, investments in the manufacturing and automotive sectors have not only yielded significant returns but also demonstrated a strong track record of value creation. While continuing to look for opportunities in these sectors, the company hopes to explore possibilities in newer segments, including the fintech space.
On the NSE, the company’s stock price closed at ₹139.70, down 30 paise.
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