Sundaram Finance Q3 PAT rises 4% to Rs 253 cr

Non-banking finance company Sundaram Finance Ltd on Tuesday reported a 3.8 per cent rise in consolidated profit after tax (PAT) at Rs 252.90 crore for the quarter ended December 31, 2019.

It had posted a consolidated PAT of Rs 243.64 crore in the year-ago period, Sundaram Finance said in a regulatory filing. However, the consolidated income of Sundaram Finance declined to Rs 1,338.29 crore in the period under consideration, from over Rs 2,224.57 crore a year-ago.

In a statement, the Chennai-headquartered company said its net non-performing assets (NPA) stood at 2.09 per cent as on December 31, 2019. The board of Sundaram Finance has declared an interim dividend of Rs 10 per share.

Set up in 1954, the Sundaram Finance Group’s services include financing for the entire range of commercial vehicles, passenger cars and construction equipment, as well as specially designed working capital products such as fuel finance and tyre finance.

Shares of Sundaram Finance were trading at Rs 1,685 a piece in morning trade on BSE, down 0.84 per cent from its previous close.