Comments
Sundaram Finance Holdings has registered a 107 per cent increase in its consolidated net profit at ₹76.20 crore for the quarter ended March 31, 2022 as compared to ₹36.82 crore in the year-ago period.
For the full year ended March 31, 2022, the consolidated net profit went up 118 per cent to ₹160.70 crore, as compared to ₹73.88 crore in FY21, according to a statement.
The Board of Directors has recommended a final dividend of ₹1 per share (20 per cent) for FY 21-22. Last year, the board recommended a dividend of ₹0.50 per share (10 per cent).
In addition, using the proceeds of the divestments made in Sundaram Clayton and TVS Investments during FY 21-22, the Board has recommended a special dividend of ₹0.75 per share (15%), which, together with the special dividend of ₹1 per share (20%) paid on February 25, 2022 will make a total special dividend of ₹1.75 per share (35%).
SF Holdings primarily operates as a holding company owning a portfolio of automotive businesses including foundries, wheels, brakes, turbo chargers, axles and distribution of spare parts. As a result, dividend from portfolio companies forms a substantial part of the financial results. Dividend received from portfolio companies was at ₹40.90 crore for the year ended March 31, 2022 as against the total dividend of ₹14.13 crore received during 2020-21.
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.