2 months ago
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Sundaram Finance Ltd. (SFL) reported on Monday a 24% rise in its standalone Q3 net profit year-on-year to ₹300 crore despite lower-than-expected economic activity.
Total revenue from operations increased from ₹1,009 crore to ₹1,346 crore. Disbursements grew 15% to ₹6,524 crore.
Net interest income rose 17%. Assets under management grew by 26% to ₹42,172 crore, said the leading NBFC in a statement.
The gross and net non-performing assets are 2.61% and 1.82% respectively against 3.97% and 2.78%. Return on assets rose marginally to 2.79% from 2.78% and capital adequacy stood at 20%.
“Our Group companies in asset management, general insurance and home finance have continued their trajectory from FY23 and recorded strong results,” said Executive Vice Chairman, Harsha Viji.
“Q3 activity in the automotive space was well below expectations of the festival period, with several asset classes declining YOY and others growing in single digits. Despite this, team Sundaram has delivered a tremendous performance,” said MD Rajiv Lochan.
“We will continue to focus on extending our market share across all asset classes and geographies we operate in,” he said.
The board declared an interim dividend of ₹14 per share to be paid by March 1.
